pls let me know the ceiling limit for payment of bonus at present. is it still 3500/- or enhanced to 5000/-
From India, Vijayawada
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3From India, Vijayawada
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No, the bonus salary ceiling limit is still Rs. 3,500 per month. If we calculate the bonus as per the ceiling salary, then in case of 8.33% (minimum bonus to be paid), it amounts to Rs. 3499, and for 20% (maximum bonus that can be paid), it amounts to Rs. 8400 only.
You can find more details by using the search option available at the top of this page. Furthermore, if you are not satisfied, you can check the sidebar on the right side where you can find the relevant threads that were discussed earlier.
From India, Kumbakonam
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You can find more details by using the search option available at the top of this page. Furthermore, if you are not satisfied, you can check the sidebar on the right side where you can find the relevant threads that were discussed earlier.
From India, Kumbakonam
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There has been no change in the ceiling for payment of Statutory Bonus. It continues to be Rs 3,500/-.
From India, Delhi
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From India, Delhi
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Concerns About Bonus Act Ceiling Limit
This is strange. When salary levels have increased multifold, the Bonus Act still talks of only Rs. 3500/- as the ceiling limit. This is just unacceptable from everybody's view. Why trade unions are keeping silent on this is not understood.
From India, Bangalore
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This is strange. When salary levels have increased multifold, the Bonus Act still talks of only Rs. 3500/- as the ceiling limit. This is just unacceptable from everybody's view. Why trade unions are keeping silent on this is not understood.
From India, Bangalore
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Dear friends, Ceiling limit on salary for the eligibility for bonus is not Rs. 3500, but Rs. 10,000. But the for bonus calculation salary upto Rs. 3500 willo be taken into account. Abbas.P.S
From India, Bangalore
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From India, Bangalore
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Statutory Bonus is mainly concerned with the workmen category who come under the Contract Labour Act or Minimum Wages Act. Please do not compare your salary for Bonus. The salary of minimum wage workmen is comparatively low, and ₹3,500/- is a good amount for them. Earlier, the Bonus was applicable to employees whose basic was ₹3,500/-; however, it has been enhanced to ₹10,000/- in the year 2007 to cover more employees (even though the ceiling limit is ₹3,500/-).
Thank you.
From India, Mumbai
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Thank you.
From India, Mumbai
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Computation of bonus should be worked out as per Schedule I to IV of the Act. Every person drawing a salary between ₹3,500 and ₹10,000 per month should have their bonus calculated as if their salary were ₹3,500 per month. To date, there has not been any enhancement to ₹5,000 per month.
Thanks & Regards,
V K Sharma
HR, Tarapur
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Thanks & Regards,
V K Sharma
HR, Tarapur
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Opinion on the Payment of Bonus Act Amendment
My opinion after going through this conversation is that the Payment of Bonus Act, after amendment, now covers a larger number of employees. This is a good thing for us. Before the amendment, we only calculated based on a salary limit of Rs. 2500, whereas now the limit is Rs. 3500.
With regards,
Madhuresh
From India, Kumar
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My opinion after going through this conversation is that the Payment of Bonus Act, after amendment, now covers a larger number of employees. This is a good thing for us. Before the amendment, we only calculated based on a salary limit of Rs. 2500, whereas now the limit is Rs. 3500.
With regards,
Madhuresh
From India, Kumar
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Yes it is good thing, but only thing is the lowest ceiling limit should be around 5000 or it should be 8.33% of basic+da.
From India, Vijayawada
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From India, Vijayawada
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Kindly guide me on this, my salary detais basic-7000, da 2500, hra 3250, c a 2000,medical allowance-500 & canteen allowance-250 total 15500 so am i not applicable for bonus
From India, Kaiga
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From India, Kaiga
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An employee is eligible to receive a bonus only when they have worked for 30 working days in that year and are drawing wages up to ₹10,000 per month or less. Wages mean Basic + DA.
In your case, you are drawing ₹9,500 (Basic + DA) wage per month. Therefore, you are eligible for the bonus.
I have also enclosed an Excel sheet to determine eligibility for a bonus based on monthly salary.
Regards.
From India, Pune
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In your case, you are drawing ₹9,500 (Basic + DA) wage per month. Therefore, you are eligible for the bonus.
I have also enclosed an Excel sheet to determine eligibility for a bonus based on monthly salary.
Regards.
From India, Pune
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Dear all , please guide me if any employee with (basic+da) of rs.3700 then bonus to be calculated on rs.3500 or on rs.3700? Ajay
From India, Kaiga
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From India, Kaiga
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Dear Ajay, As already clarified by the members bonus is to be calculated considering the salary as Rs. 3500/- per month. Regards, R N KHOLA
From India, Delhi
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From India, Delhi
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Amendment to Payment of Bonus Act 2015.jpg
Bigger bonuses for more as Lok Sabha amends Payment of Bonus Act - The Economic Times.pdf
THE PAYMENT OF BONUS ACT.doc