Bonus Payment
Arihant AC
(Querist) 17 January 2009
This query is : Resolved
Dear Experts,
Recently The Govt. of India have amended the Payment of Bonus Act, 1965 by an Ordinance issued on 27th October, 2007. A copy of the ordinance in which it is mentioned that With the promulgations of this Ordinance, the salary ceiling has been increased to Rs.10,000/- P.M. The entitlement for calculation of Bonus will be Rs. 3,500/-P.M. effective from 01/04/2006.
In this regards I want to know that if Employee Salary is Rs. 10,000/-P.M. then he is liable for maximum of Rs. 3500/- or Rs. 10,000/- as a Bonus, I am confusing about this.
Regards
NAC
mahesh kumar yadav
(Expert) 22 January 2009
hi this is mahesh kumar advocate
according to payment of bonus act 1965
the employee shouls have minimum wage of Rs3500 per month and should not exceed the Rs10000 per month from 1-4-2006, so with this regards minimum bonus payable to the emplyoee is 8.33% on the wage or salaray of the employee and maximum of 20% of the emplyoee salary in an accounting year.
Arihant AC
(Querist) 23 January 2009
Dear Maheshkumar yadav,
What I understand is that minimum bonus payable to employees is Rs. 3500/- as per 8.33% & if the employee salary is Rs. 10,000/- then as per 8.33% Rs. 3500/- or Rs. 10,000/- should be pay or what?
& for 20% the employee should be paid Rs.8403/-(3500 * 20 / 8.33) or Rs. 24000/-
please give me reply as it is very urgent.
Regards,
NAC
Hiralal Das
(Expert) 08 April 2009
Good efforts but not so clear.
