Dear Friends,
i work for a Delhi based BPO. I handle HR & Payroll Department. Recently there have been certain changes in payment of bonus act and we are quite skeptical / confused whether we have to pay bonus to the employees or not. Can anybody please help me out in removing my doubt as i haven't come across any organisation except factories which is paying yearly or monthly bonus to the employees.
we are in the process of salary restructuring as well and planning to include bonus as well provided it is applicable on us. we are 4 years old organisation.
looking forward for your valuable inputs.
Warm Regards
Abhinav Tiwari
From India, New Delhi
5i work for a Delhi based BPO. I handle HR & Payroll Department. Recently there have been certain changes in payment of bonus act and we are quite skeptical / confused whether we have to pay bonus to the employees or not. Can anybody please help me out in removing my doubt as i haven't come across any organisation except factories which is paying yearly or monthly bonus to the employees.
we are in the process of salary restructuring as well and planning to include bonus as well provided it is applicable on us. we are 4 years old organisation.
looking forward for your valuable inputs.
Warm Regards
Abhinav Tiwari
From India, New Delhi
Dear Abhinav,
I presume that the salary of your employees is more than the ceiling of salary fixed u/s 2(13) of the Payment of Bonus Act,1965 is the reason for your present query. Raising of the threshold limit of the salary from Rs10,000/= to Rs 21,000/= is one of the aspects of the recent amendment.
Therefore, either as of now or after restructuring, those of your employees drawing a monthly salary of 21000/= and below are entitled to statutory bonus.
From India, Salem
I presume that the salary of your employees is more than the ceiling of salary fixed u/s 2(13) of the Payment of Bonus Act,1965 is the reason for your present query. Raising of the threshold limit of the salary from Rs10,000/= to Rs 21,000/= is one of the aspects of the recent amendment.
Therefore, either as of now or after restructuring, those of your employees drawing a monthly salary of 21000/= and below are entitled to statutory bonus.
From India, Salem
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Amendment to Payment of Bonus Act 2015.jpg
Bigger bonuses for more as Lok Sabha amends Payment of Bonus Act - The Economic Times.pdf
THE PAYMENT OF BONUS ACT.doc