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Urgent help... Law difficulty

Others 1354 views 9 replies

I am confusing regarding Payment of Bonus Act Topic.. As per Institute's suggested answer of May'08 PCC exam, The upper limit for payment of bonus has been revised from 3,500p.m. to Rs.10,000 p.m. by way of notification dated 15th November 2007,... Now my question is "what does it mean" ???? Is It mean limit of person drawing salary or limit for calculating Bonus liability ???? As per Paduka latest addition, they are still with 3,500/- limit for  calculating Bonus liability !!!!!

Replies (9)

you are correct. employee drawing salary upto 10,000 alone shall be eligible to claim bonus. Please note the that limit is only to categorise the employees. For the purpose of calculation of bonus to employees, Rs 3500/- shall be considered (i.e minimum or maximum bonus shall be calculated in acc with Rs 3500) 

I suggest u to read the bare act once atleast (amended one) before relying upon any reference book. Choose a good book. According to me, book which u have mentioned is good for nothing, you will realise once you advance to next stages in CA course. Mark my words

if u see  compliation of suggested ans. it is 10000

 pdf file is available on the net https://www.icai.org/post.html?post_id=5771

Yep! it is updated now... Bonus is available to the employees  only who are drawing 10,000/-.

Originally posted by : A.Jayasri

Yep! it is updated now... Bonus is available to the employees  only who are drawing 10,000/-.
 
 
 
 

The amended limit is for Salary limit nd not for the bonus liability.

advasable is go through the Bare Act of bonus before relying on any other reference book.

Only eligibility criteria to get bonus is amended from  3500 p.m to 10,000 p.m & still employees having salary more than 3500 p.m ,their salary is deemed  as  3500 p.m in calculation of Max. Bonus,Min. Bonus,set on limit.

Originally posted by : Pulkesh Mehta

Only eligibility criteria to get bonus is amended from  3500 p.m to 10,000 p.m & still employees having salary more than 3500 p.m ,their salary is deemed  as  3500 p.m in calculation of Max. Bonus,Min. Bonus,set on limit.

for calculating num of employees eligible for bonus..upto person earning 10000rs will be eligible for bonus..and while deciding bonus though the employer earning rs10000 he will be treated earning only rs3500

thanks 2 all.... :):)


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