Dear colleagues,
As per Section 12 of the Payment of Bonus Act, 1965, should the bonus be calculated as 8.33% of salary or wages with a maximum consideration of 7,000 rupees or the minimum wages specified for that state? Has the ceiling amount been revised to 21,000 rupees, such that "bonus be calculated as 8.33% of salary or wages with a maximum consideration of 21,000 rupees or the minimum wages specified for that state"?
If yes, kindly send me the legal attachments for the same. Your help in this matter is highly appreciated.
From India, Bengaluru
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3As per Section 12 of the Payment of Bonus Act, 1965, should the bonus be calculated as 8.33% of salary or wages with a maximum consideration of 7,000 rupees or the minimum wages specified for that state? Has the ceiling amount been revised to 21,000 rupees, such that "bonus be calculated as 8.33% of salary or wages with a maximum consideration of 21,000 rupees or the minimum wages specified for that state"?
If yes, kindly send me the legal attachments for the same. Your help in this matter is highly appreciated.
From India, Bengaluru
Acknowledge(0)Amend(0)
The notification is attached for your understanding and interpretation to abide by.
From India, Mumbai
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From India, Mumbai
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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