Bonus

H.S.ACHARYA (Querist) 07 April 2014 This query is : Resolved
What is the maximum amount payable as per bonus act?

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Dr J C Vashista (Expert) 08 April 2014
Academic query.

Vidhi Joshi (Expert) 08 April 2014
As per Payment of Bonus Act, 1965 Section 11 When in any year the allocable surplus exceeds the amount of minimum bonus payable to the employees, the maximum bonus payable by the employer to his employees in that year is 20% of the salary or wage.

V R SHROFF (Expert) 08 April 2014
Academic query.

H.S.ACHARYA (Querist) 08 April 2014
Thanks. Hope it is only basic and DA and special allowance not to be included.

H.S.ACHARYA (Querist) 08 April 2014
If a person draws more than Rs. 10000 per month and if appointment letter says one month bonus is payable he is entitled for bonus?

T. Kalaiselvan, Advocate (Expert) 09 April 2014
Academic query,I agree with the experts on the issue.

Rajendra K Goyal (Expert) 11 April 2014
Academic query.

Surrender K Singal (Expert) 12 April 2014
Appointment letter is like a contract between Employer and Employee, which can be honoured, so long as it does not contravene the statute !

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