Payment of Bonus act 1965

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This query is : Resolved

CA. Hemanth Kumar. (Querist)

23 June 2009 Please update me on the following :

1. what is the ceiling of Salary or Wages, to be eligiable to get bonus under the provision of Bonus act ?

2. What is the ceiling of Salary or Wages to be considered in order to calculate the minimum bonus of 8.33 % ?

where can i get the soft copy of revised bonus act for reference.

Thanks

Hemanth Kumar.M

Sanjeev Jain

Sanjeev Jain (Expert)

23 June 2009 Hie,

01. The revised limit for Bonus ACt is Rs.10,000 i.e any employee withdrawing a basic and DA.
02. 8.33% will be calculated on Allocable surplus and the minimum range is salry withdrwan or 10,000 whichever is less
03. if you really wanna know the exact fact of the provisions yu can get the copy of it by typing in google account. you will get it.

CA. Hemanth Kumar.

CA. Hemanth Kumar. (Querist)

24 June 2009 Thanks for your update,

I got my doubt clarified except for the 2nd , If an employee is drawing a salary of Rs. 10,000/- then he is eligiable to get almost near to one month salary as bonus, (8.33 % of 12 month salary comes to 99.96). is it so ? or his salary limit to compute bonus has some prescribed limit.

Thanks,,

Hemanth Kumar.M

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