Payment of BONUS

This query is : Resolved

Meenakshi (Querist)
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21 April 2008 When does the BONUS ACT applies - for the "Shop on establishment"

IS it minimum of 20 empolyees which will attract the payment of Bonus ?

And is the salary any crietria ?

CA. Dashrath Maheshwari

CA. Dashrath Maheshwari (Expert)
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21 April 2008 Applicability of bonus Act:
i)(a) Every factory (as def. in Factories Act), & (b) Every other establishment in which 20 or more persons (less than 20 but 10 or more if appropriate Govt. notifies) are employed on any day subject to certain exemptions.
ii) Employees' drawing remuneration of Rs. 3,500/- or more and those who have worked for less than 30 days are not eligible to receive bonus under the Act.
iii) Bonus to be paid within eight months from the expiry of the accounting year.

CA. Dashrath Maheshwari

CA. Dashrath Maheshwari (Expert)
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21 April 2008 Eligibility
i) Every person (other than an apprentice) drawing salary up to RS 3,500 per month.
Ii) Every person drawing salary between RS 2,501/- and RS 3,500/- per month. The bonus payable to him is to be calculated as if his salary were RS 2,500/- p.m.

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