payment of Bonus to employees

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Harpreet Kaur (Querist)
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08 October 2010 Dear sirs,
Following are some Queries related to Bonus Calculation and payments:-
1.what is the minimum and Maximum ceiling limit of salry for Bonus purpose for Calculating Bonus FY 2009-10 to be paid in 2010-11?
2. if any employee getting 20000 PM salary then he is eligible to get Bonus,then how much maximum Bonus to be paid to him please calculate.

Regards
Harpreet

CMA. Subhash Kumar Jha

CMA. Subhash Kumar Jha (Expert)
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08 October 2010 1. Eligibility limit : Rs. 10000/- per month.

Calculation : 20 % of Rs. 3500/- per month.

2. For above Rs. 10000/- salary, Bonus is not mandatory.

Message likes : 1 times

Harpreet Kaur

Harpreet Kaur (Querist)
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12 October 2010 first of all thanks for solving my query

what will be the effect as per income Tax law if any employer is paying bonus to his employees having limit above than 10000 pm
paying to employees bonus more than the limit of 10000 will be allowed as bonus exp. or not in accounts books

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