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Bonus act, 1965
1., can a employee taking salary more than 21000/- pm is eligible for bonus ?
2. Is there any monetary limit for the bonus other than maximum 20% ?
3. directors and promoters are eligible for bonus ?
Replies (8)
Person having salary more than Rs. 21000/- is not eligible for Bonus @ 8.33%. instead of it company can provide performance bonus on his own choice.
any minimum bonus will be 8.33% of Rs. minimum wages of Rs. 7000/- if salary is lower than Rs. 21000/-....
if salary is 15000 then we will calculate bonus as per 15000 pm or minimum ceiling 7000/- pm
| Originally posted by : NEHA AGARWAL | ||
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Person having salary more than Rs. 21000/- is not eligible for Bonus @ 8.33%. instead of it company can provide performance bonus on his own choice. any minimum bonus will be 8.33% of Rs. minimum wages of Rs. 7000/- if salary is lower than Rs. 21000/-.... |
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the calculation of bonus will be as below:-
7000*12= 84000
84000*20/100= 16800 i.e. maximum bonus we can pay.
am I right Neha g or not ??
YES KANWALJIT YOU ARE RIGHT........... BUT IT IS MAXIMUM LIMIT............ WE HAVE TO PAY MINIMUM BONUS OF 8.33% OF RS. 84000/- I.E. 6997/-
Thanks for your advise Neha g
IF WAGES LESS THAN 7000 THEN HOW TO CALCULATE BONUS? PLS
Mr. Rahul in this case we have to take 7000 base or minimum wages declared by the state government which ever is higher.
THANKS FOR REPLY
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