Dear Friends,
According to the recent amendment to the payment of bonus act the ceiling limit for payment of bonus was raised from Rs.3500 to 10000.
Pls tell me this amount is Basic DA or Gross Salary.
Regards
Sujith
From India, Bangalore
2According to the recent amendment to the payment of bonus act the ceiling limit for payment of bonus was raised from Rs.3500 to 10000.
Pls tell me this amount is Basic DA or Gross Salary.
Regards
Sujith
From India, Bangalore
Bonus is calculated on Basic + DA + Special pay. To be more specific, DA includes Fixed DA and Variable DA. regards, vijay
Does it mean that an employee who gets more than 10000 as Basic salary is not eligible for Bonus payment?
From India, Coimbatore
From India, Coimbatore
Dear Sujit,
Following are the amendments that will be taken into effect:
1) Employees drawing Gross salary not more than 15,000/- per month will only be eligible for Bonus according to this new Amendment in the Bonus Act (Currently its 10,000/-)
2) The ceiling from 3500 has been changed to 5000 and its the Basic Salary and not the Gross.
3) The bonus will be calculated at a rate of 11% of Basic upto 5000/- i.e. the maximum amount will be 550/- per month (Currently its 8.33% on basic upto 3500 /-with the maximum amount: 292/-)
From India, New Delhi
Following are the amendments that will be taken into effect:
1) Employees drawing Gross salary not more than 15,000/- per month will only be eligible for Bonus according to this new Amendment in the Bonus Act (Currently its 10,000/-)
2) The ceiling from 3500 has been changed to 5000 and its the Basic Salary and not the Gross.
3) The bonus will be calculated at a rate of 11% of Basic upto 5000/- i.e. the maximum amount will be 550/- per month (Currently its 8.33% on basic upto 3500 /-with the maximum amount: 292/-)
From India, New Delhi
Till date there is no Amendment in Payment of Bonus......... Its just the Bill is introduce to raise the ceiling to rs. 15K but still is not been amended... reg vikram
From India, Ahmadabad
From India, Ahmadabad
dear sir, kindly provide notification in supporting of above celling limit of bonus and 11% as minimum bonus. with regards, Ankita Vashi
From India, Indore
From India, Indore
Find answers from people who have previously dealt with business and work issues similar to yours - Please Register and Log In to CiteHR and post your query.
201901294424Tra de Circular No. 6T of 2019- Exemption from payment of late fee us 6 (3) (1).pdf
Amendment to Payment of Bonus Act 2015.jpg