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dhaval

dhaval (Querist)

14 December 2010 Can any one tell me wat is limit for minimum bonus is it below 10000 or up to 10000

Arun Iyer

Arun Iyer (Expert)

14 December 2010 Dear Dhaval,

For Minimum Bouns 8.33 % Of Salary.

Thanks

dhaval

dhaval (Querist)

14 December 2010 No sir i want slab which is 3500 to 10000 so my query is whether it is upto 10000/- or less than 10000

Ajay Mishra

Ajay Mishra (Expert)

14 December 2010 Hi

The employer is bound to pay to his employees every year a minimum bonus of 8.33% of the salary or wage or Rs. 100.00, whichever is higher, whether be has any allocable surplus or not. {Section 10}

If an employee is drawing a salary or wage not exceeding Rs. 3500.00 per month, he is entitled to get bonus on his entire salary or wage. If an employee is getting a salary or wage exceeding Rs. 3500.00 per month, but not exceeding 10000.00 per month, the bonus payable to him is to be calculated as if his salary or wage were Rs. 3500.00 per month. An employee getting a salary or wage exceeding Rs. 10000.00 per month is not entitled to get bonus. {Section 12}

For details go to the following link:

https://www.excelconsultancyservices.co.in/PaymentOfBonus/faqs.htm

Regards

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