Dear Sir, I would like to know whether i am eligble for Bonus for 2010-11 or not. I had joined this orgnaization as on Dec.,2010 to continuing. Kindly let me know sir. Thanking you, Dhanya Nair
From India, Mumbai
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4From India, Mumbai
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This rule is followed by our company also. They normally give 20% but to others who left give 8.33 %.
From India, Chandigarh
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From India, Chandigarh
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SHAHEEN- ZAFAR hai first tel me from which month u r added to the payroll or from which month ur company start deducting ur pf if tht month come within apr10 to mar11then u r appicable to bonus 10-11
From India, Ranchi
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From India, Ranchi
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Dear all, if any employee joins as a trainee, they will not be eligible for a bonus. If an employee joins as a probationary employee, they will be eligible for the bonus period. However, the employee must work for 30 days to qualify for the particular bonus period.
Regards,
Gavaskar Thati
[Phone Number Removed For Privacy Reasons]
From India, Hyderabad
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Regards,
Gavaskar Thati
[Phone Number Removed For Privacy Reasons]
From India, Hyderabad
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As per the Payment of Bonus Act, every employee who has completed 30 days of work in a year is eligible to receive a bonus for that year. Here, an employee is defined as any person who earns gross wages of 10,000 or less, which is covered under the Bonus Act. However, for the purpose of calculation, the salary threshold limit is set at 3,500 only. An employee can receive their minimum or maximum bonus based on the salary amount of 3,500, even if they earn more than 3,500. Bonuses may be paid based on this formula: (actual salary / 3,500 * min bonus 8.33% or max 20% * number of months worked in a year).
Thank you.
From India, Hyderabad
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Thank you.
From India, Hyderabad
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Since you joined in December 2010, you are eligible for a bonus as the period considered for the computation of the bonus is April 2010 to March 2011. Kindly inform me of your salary so that a decision can be made regarding whether a bonus should be paid to you or not.
Thanks & regards,
Sumit Kumar Saxena
[Phone Number Removed For Privacy Reasons], [Phone Number Removed For Privacy Reasons]
From India, Ghaziabad
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Thanks & regards,
Sumit Kumar Saxena
[Phone Number Removed For Privacy Reasons], [Phone Number Removed For Privacy Reasons]
From India, Ghaziabad
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Since you joined in December 2010, you are eligible for a bonus as the period considered for the computation of the bonus is April 2010 - March 2011. Please inform me of your salary so that a decision can be made regarding whether a bonus should be paid to you or not.
Thanks & regards,
Sumit Kumar Saxena
[Phone Number Removed For Privacy Reasons], [Phone Number Removed For Privacy Reasons]
From India, Ghaziabad
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Thanks & regards,
Sumit Kumar Saxena
[Phone Number Removed For Privacy Reasons], [Phone Number Removed For Privacy Reasons]
From India, Ghaziabad
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I am inquiring whether the bonus is applicable in the construction field. I work as an HR professional in the construction industry, and one of our laborers is claiming a bonus for working with us for one year. He is a local laborer and is threatening to report us to the labor commissioner if we do not comply. Given the nature of the construction field and the fluctuating work stability, I am unsure if it is feasible to provide a bonus. I kindly request your guidance on this matter.
Thank you,
Regards,
M. Hemakumar
[Phone Number Removed For Privacy Reasons]
From India, Bangalore
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Thank you,
Regards,
M. Hemakumar
[Phone Number Removed For Privacy Reasons]
From India, Bangalore
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Dear Gavaskar Thati, One small query, if a person joins on the 15th of March 2011, he will not be eligible for the 2010-11 bonus, as he is not completing 30 days in that bonus period. If he works for the full year in the next year, will this 15-day bonus be added when the next year's bonus is disbursed?
Regards,
Saurav Banerjee
From India, Madras
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Regards,
Saurav Banerjee
From India, Madras
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Also, please let me know if the statutory bonus is taxable or non-taxable. That is 3500 * 20% * number of months in a year for the maximum statutory bonus or 3500 * 8.33% * number of months in a year for the minimum statutory bonus.
Regards,
Saurav Banerjee
From India, Madras
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Regards,
Saurav Banerjee
From India, Madras
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yes you are entitled for bonus. as per bonus act an employee who has completed 30 days in last finicial year has eligible for bonus.
From India, Gurgaon
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From India, Gurgaon
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Dear HR, Thanks for your reply, but my query remains unattended.
Bonus Eligibility Query
1. If a person joins on the 15th of March 2011, he will not be eligible for the 2010-11 bonus as he has not completed 30 days in that bonus period. If he works for the full year in the next year, will this 15-day bonus be added when disbursing the bonus for the next year?
2. Is the statutory bonus taxable or non-taxable? For the maximum statutory bonus, is it calculated as 3500 * 20% * the number of months in a year, or for the minimum statutory bonus, is it calculated as 3500 * 8.33% * the number of months in a year?
Thank you.
From India, Madras
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Bonus Eligibility Query
1. If a person joins on the 15th of March 2011, he will not be eligible for the 2010-11 bonus as he has not completed 30 days in that bonus period. If he works for the full year in the next year, will this 15-day bonus be added when disbursing the bonus for the next year?
2. Is the statutory bonus taxable or non-taxable? For the maximum statutory bonus, is it calculated as 3500 * 20% * the number of months in a year, or for the minimum statutory bonus, is it calculated as 3500 * 8.33% * the number of months in a year?
Thank you.
From India, Madras
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Dear Mr.Ashok Kumar M It is upto 10,000 if basic is bonus will be calculated 3500 as basic salary. Regards Saurav Banerjee
From India, Madras
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From India, Madras
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Dear Sir, If a person who draws his gross wages more than 10,000 may be around 30,000. Will also be eligible for the Bonus?.
From India, Bangalore
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From India, Bangalore
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Eligibility for Bonus under The Payment of Bonus Act, 1965
As per the relevant provisions of The Payment of Bonus Act, 1965, employees who have completed a minimum of 30 days of service in an accounting year are eligible for a bonus. The minimum bonus amount is Rs. 100 or 8.33% of Basic and DA, whichever is higher.
Regards,
Sanu Soman
HR Manager
From India, Madras
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As per the relevant provisions of The Payment of Bonus Act, 1965, employees who have completed a minimum of 30 days of service in an accounting year are eligible for a bonus. The minimum bonus amount is Rs. 100 or 8.33% of Basic and DA, whichever is higher.
Regards,
Sanu Soman
HR Manager
From India, Madras
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Dear All, If an employees salary up to Dec 2010 is less than 10000 per month and from jan 2011 onwards is more than 10,000 per month, whether he is eligible for bonus
From India, Kochi
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From India, Kochi
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Dear all, thanks for your replies. my basic is Rs. 12300 and my net salary is Rs.14000/- so what will be the bonus amount for the month of Dec.2010 - march 2011. dhanya
From India, Mumbai
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From India, Mumbai
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Dear Dhanya, You’re are covered under payment of Bonus Act 1965. Only for those basic salary is 10000/Month and below. Ashok
From India, Bangalore
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From India, Bangalore
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If your salary, as defined under the Payment of Bonus Act, 1965, exceeds Rs 10,000/- per month, then you will not be entitled to receive a bonus starting from this month onward.
Eligibility for Bonus Based on Salary Changes
If an employee's salary up to December 2010 is less than Rs 10,000 per month, and from January 2011 onwards is more than Rs 10,000 per month, are they still eligible for a bonus?
Regards,
R.N. Khola
LL & IR
Skylark Associates
Gurgaon, Haryana
From India, Delhi
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Eligibility for Bonus Based on Salary Changes
If an employee's salary up to December 2010 is less than Rs 10,000 per month, and from January 2011 onwards is more than Rs 10,000 per month, are they still eligible for a bonus?
Regards,
R.N. Khola
LL & IR
Skylark Associates
Gurgaon, Haryana
From India, Delhi
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