About payment of bonus and gratuity and other acts
HELENA
(Querist) 01 July 2023
This query is : Resolved
THE MINIMUM WAGES ACT IN TAMIL NADU PRESCRIBES AROUND RS. 11000.00 FOR ATTENDERS AND SWEEPERS FOR THE CURRENT FINANCIAL YEAR. THE BASIC PAY IS FIXED AT RS 5500.00 .
IS BONUS TO BE PAID BASED ON RS 11000 OR RS 5500 ? WHEN IS BONUS TO BE PAID IN A FINANCIAL YEAR ? CAN BONUS BE PAID IN TWO INSTALMENTS ON 31-06-2023 AND 31-12-2023 IF THE EMPLOYEES WANT IT ?
REGARDING PAYMENT OF GRATUITY IS IT TO BE CALCULATED ON THE BASIC PAY OR ON THE TOTAL PAY DRAWN IN THE LAST MONTH OF LEAVING SERVICE ?
CAN THE FESTIVAL HOLIDAY WAGES BE PAID EVERY MONTH OF THAT FESTIVAL OR TO BE PAID AT THE END OF THE YEAR
kavksatyanarayana
(Expert) 02 July 2023
As ascertained, The Act Applies to all Factories and every other establishment, which employs twenty or more workmen. The Payment of Bonus Act, of 1965 provides for a minimum bonus of 8.33 per cent of wages. The salary limit fixed for eligibility purposes is Rs. 3,500 per month and the payment is subject to the stipulation that the bonus payable to employees drawing wages or salary not exceeded to Rs.10000 per month.
HELENA
(Querist) 02 July 2023
Thank you for your kind reply.
My query is
1. Can Bonus be paid along with monthly salary.
2. Can it be paid in two or three instalments
3. Is Gratuity calculated on Basic Pay or on Gross salary
4. Can the festival . national holiday extra salaries be paid in that month
P. Venu
(Expert) 16 July 2023
What is the context for this query? Please post relevant information.
