the payment of bonus act 1965
This query is : Resolved
07 August 2010
a supervisor of a factory having salary Rs. 10,000 p/m.can he claim bonus according to bonus act 1965.what would be the answer if salary changed to Rs. 11,000? plz explain because i have an confusion in Salary limit Rs. 10,000 or Rs. 3,500.
07 August 2010
salary limit is 10000/-
But for bonus calculation , it will be 3500/-
Means : anybody receiving salary upto 10000/- will be eligible to get bonus @ 20 % on maximum of 3500/- i.e Rs. 700/- per month.
I hope its clear.
For eligibility , limit is Rs. 10000/- p.m &
For Bonus calculation it is Rs. 3500/- p.m
But for bonus calculation , it will be 3500/-
Means : anybody receiving salary upto 10000/- will be eligible to get bonus @ 20 % on maximum of 3500/- i.e Rs. 700/- per month.
I hope its clear.
For eligibility , limit is Rs. 10000/- p.m &
For Bonus calculation it is Rs. 3500/- p.m
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07 August 2010
For your reference go to the link :
https://pib.nic.in/release/rel_print_page.asp?relid=31572
https://pib.nic.in/release/rel_print_page.asp?relid=31572
07 August 2010
CASE (a) Salary Rs. 10,000 p/m.
Bonus = 3500*12* 8.33 %(or higher percentage to the max of 20%)
so if salary is 10000p.m.
minimum bonus = 3500*12*8.33 = 3498.6
Maximum Bonus = 3500*12* 20% = 8400
CASE(B)
if salary changed to Rs. 11,000
No bonus as per Payment of bonus act 1965 (because he is not a employee within the meaning of payment bonus act 1965, see definition of "employee" from institute material)
NOTE
all these amount are computed as per bonus act 1965 , an employer can pay bonus higher then above but not lower then
Bonus = 3500*12* 8.33 %(or higher percentage to the max of 20%)
so if salary is 10000p.m.
minimum bonus = 3500*12*8.33 = 3498.6
Maximum Bonus = 3500*12* 20% = 8400
CASE(B)
if salary changed to Rs. 11,000
No bonus as per Payment of bonus act 1965 (because he is not a employee within the meaning of payment bonus act 1965, see definition of "employee" from institute material)
NOTE
all these amount are computed as per bonus act 1965 , an employer can pay bonus higher then above but not lower then
Message likes :
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