Bonus Act

when is your company incorporated, this has implication on the criteria and limits for payment of bonus apart from other conditions and stipulations

Dear Mr Krishnan

Our Company incorporated in April'2000, please solve the query as I am not aware of this Act.

Dear Sir,

Payment & Procedure of Bonus act.

you read my observation

Higher Bonus can paid @ 20% on ceiling of Rs.3500/- per month. Who employees getting Rs.10000/- per month, which employee covered in bonus act.

e.g. =  If a employee getting Rs.9000/- per month, the calculation of bonus of above employee is to be calculated @ 20% on Rs.3500/- per month.

                                                  or

@ 20% on Rs.9000/-

who calculation is to be correct

please clear my observation

regards

ANUJ GARG

Dear sir,

                      I am arunkumar from vellore newly join in Hr department. pls help me hr activities and duties and filing maintenance and TDS and Sales tax and Service Tax. how to payable and filing details .

                                                    Thankingyou,

                                                                                                                     your's truly,

                                                                                                             
                                                                                                            G. ARUN KUMAR MBA

1. A person X serves the company “A” from 01/04/2007 to 31/03/2008 and he left the company on 01/04/2008. The company “A” gives the ex-gratia bonus to its employees for the accounting year 2007-08 (01/04/2007 to 31/03/2008).

Hello Sir

 I m manish Aggarwal

I have two Querry?

1. As per Section 11 & 12 of bonus act, min. and max. bonus rate is 8.33% to 20%.

but, if any co. has paid bonus amount more than 20% than what is the implication and consequences?

whether is allowed under the same act and Income Tax Act.

whether any penalty and prosecution will be leviable?

2.  Asper provision of Bonus Act, only those employee are eligible for bonus who has worked at least 30 working days

but if any employee has worked less than 30 days but the company has paid bonus to the same employee.

whether is allowed under the same act and Income Tax Act.

whether any penalty and prosecution will be leviable?

There is an amendment on the doubt u hav asked:

Before Amendment, bonus was to be paid on 3500/- even if his salary is above 3500/-

After Amendment, uptil 10000/- bonus is paid on the salary earned.

This Amendment is Applicable from F.Y. 2008 - 2009.

As per Bonus Act,

Applicabiblity:-

Company:- bonus is applicable to the company if there are 20 or more employees employed in the company.

Employee:- An Employee is eligible for bonus only & only if had worked for atleast 30 days in the year.

Minimum Bonus: 8.33% of the salary or 100 whichever is more.

Maximum Bonus: 20% of the salary.

hi

Mr. Minesh Shah

I think u are not understand my question

My question is different and your answer is different