payment of bonus act
This query is : Resolved
05 July 2010
sir,
if food allowance is deducted from the salary of the employee, then it is added back for the calculation of bonus, as in bonus act meaning of salary is (basic salary+ D.A.)...what is the basic reason behind it?
if food allowance is deducted from the salary of the employee, then it is added back for the calculation of bonus, as in bonus act meaning of salary is (basic salary+ D.A.)...what is the basic reason behind it?
05 July 2010
Here “Salary or wages” means all remuneration (other than remuneration in respect of over-time work), includes dearness allowance but does not include:
(i) any other allowance
(i) the value of any house accommodation or of supply of light, water, medical attendance or other amenity or of any service or of any concessional supply of food grains or other articles;
(iii) any travelling concession;
(iv) any bonus (including incentive, production and attendance bonus);
(v) any contribution paid or payable by the employer to any pension fund or provident fund
(vi) any retrenchment compensation or any gratuity or other retirement benefit;
(vii) any commission payable to the employee.
Explanation: Free food allowance or free food by his employer, such food allowance or the value of such food in lieu of salary be deemed to form part of the salary or wages of such employee.
(i) any other allowance
(i) the value of any house accommodation or of supply of light, water, medical attendance or other amenity or of any service or of any concessional supply of food grains or other articles;
(iii) any travelling concession;
(iv) any bonus (including incentive, production and attendance bonus);
(v) any contribution paid or payable by the employer to any pension fund or provident fund
(vi) any retrenchment compensation or any gratuity or other retirement benefit;
(vii) any commission payable to the employee.
Explanation: Free food allowance or free food by his employer, such food allowance or the value of such food in lieu of salary be deemed to form part of the salary or wages of such employee.
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