Consequent to the amendment to Payment of Bonus Act 1965, promulgated by the President, the ceiling of minimum basic salary has been raised to INR 10,000/- for payment of Bonus. :?: We were informed that Bonus has to paid to the employees who are drawing Basic salary @ INR 10,000/- or less per month and payment has to take place in Nov. 07.
We wish to inform you that our compnay, is paying Bonus to all employees irrespective of their Basic Salary amount and the minimum amount of bonus we are paying is INR 12,000/- p.a. and the same is paid in the month of April for the previous financial year and the same is forming part and parcel of Cost to Company per annum.
Considering the bonus amount paid by our company we would like to know whether our company is still bound by the above said promulgamation by the President of India, to pay bonus to the employees
From China, Qinhuangdao
1We wish to inform you that our compnay, is paying Bonus to all employees irrespective of their Basic Salary amount and the minimum amount of bonus we are paying is INR 12,000/- p.a. and the same is paid in the month of April for the previous financial year and the same is forming part and parcel of Cost to Company per annum.
Considering the bonus amount paid by our company we would like to know whether our company is still bound by the above said promulgamation by the President of India, to pay bonus to the employees
From China, Qinhuangdao
It is to be understood that your company is not following the statutory ruling of payment of bonus. If any one pays better that is well and good, but if the employer insists on paying bonus according to the Act, then the new amendment will have to be adhered. Previously, when the salary ceiling was Rs 3500, the bonus of all those whose salary were between 2500 and 3500 were calculated as if their salary were 2500. Now it has been brought as 3500 and those drawing between 3500 and 10000 will be getting bonus calculated at 3500 only.
Madhu.T.K
From India, Kannur
Madhu.T.K
From India, Kannur
Hi There!!!! Can any one tell me the changes in the haryana act in minimum wages???? and can any one provide me the new act with latest amendment...
From India, Chandigarh
From India, Chandigarh
Dear Harpreet,
This thread relates to amendment in Bonus Act. Even then it is hereby clarified that Minimum Wages Act, 1948 is a Central Act. Haryana Govt. have not made any amendment. The Govt. of Haryana have increased the minimum rates of wages for employees working with different schedule employments wef 01.01.2010.
With Regards,
R.N.Khola
From India, Delhi
This thread relates to amendment in Bonus Act. Even then it is hereby clarified that Minimum Wages Act, 1948 is a Central Act. Haryana Govt. have not made any amendment. The Govt. of Haryana have increased the minimum rates of wages for employees working with different schedule employments wef 01.01.2010.
With Regards,
R.N.Khola
From India, Delhi
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Gazette dt.24.02.2023-A mendment to PT Act increasing the limit to 25 K.pdf
Amendment to Payment of Bonus Act 2015.jpg