Dear Khushi,
If it is 10k, then the same formula can be used for calculation which i had mentioned in previous link.
If it is more than 10 k, then bonus is not applicable. But your organisation prefer to give exgratia to your employees, then same formula can be applied.
Regards,
Dinesh
From India, Wardha
9If it is 10k, then the same formula can be used for calculation which i had mentioned in previous link.
If it is more than 10 k, then bonus is not applicable. But your organisation prefer to give exgratia to your employees, then same formula can be applied.
Regards,
Dinesh
From India, Wardha
Dear Bhavik
In point 2 please consider as "Bonus paid always on bonus wages , which is ceiling limit upto Rs. 3500/- per month. For example if an employee is getting 10000/- per month basis + DA and worked for 30 days, then his bonus wages amount is equal to Rs. 3500/-. and bonus will be calculated on Rs. 3500/- ."
You have mentioned that bonus calculation will be made on Rs. 10000/- that is incorrect because that is ceiling limit of eligibility criteria of bonus for an employee but bonus wages ceiling limit is only Rs. 3500/-
Hopefully it is cleared now...
attribution https://www.citehr.com/474062-about-...#ixzz2ilKY7lHj
From India, Delhi
In point 2 please consider as "Bonus paid always on bonus wages , which is ceiling limit upto Rs. 3500/- per month. For example if an employee is getting 10000/- per month basis + DA and worked for 30 days, then his bonus wages amount is equal to Rs. 3500/-. and bonus will be calculated on Rs. 3500/- ."
You have mentioned that bonus calculation will be made on Rs. 10000/- that is incorrect because that is ceiling limit of eligibility criteria of bonus for an employee but bonus wages ceiling limit is only Rs. 3500/-
Hopefully it is cleared now...
attribution https://www.citehr.com/474062-about-...#ixzz2ilKY7lHj
From India, Delhi
Is there any rule which says that if an employees complete 6 months in the organization then only he/she is applicable for bonus because it mentioned above that a person should have worked for minimum 30 days in the same company.
Also like to know if the person has resigned but has worked for more than 3 years + he/she is applicable for bonus later.
From India, Mumbai
Also like to know if the person has resigned but has worked for more than 3 years + he/she is applicable for bonus later.
From India, Mumbai
Dear Pooja, Completion of 30 days is mandatory in the accounting year . No need to see how many years/ months, he / she worked. Resigned person also eligible for getting bonus. Regards, Dinesh
From India, Wardha
From India, Wardha
Dear Mr. Dinesh, As you said if the employee is getting more than 10K,then he/she will be given exgratia.What will be the base limit to calculate such exgratia?? Regards, K.Kumar
From India, Dehra Dun
From India, Dehra Dun
Dear Mr. K. Kumar,
There is no base limit to calculate ex-gratia. Its depend on Management.
It may be given lumpsum.
Generally, most of the organisation go as per Bonus rules.
If you have any other opinion, please share with us.
Thanks & Regards,
Dinesh
From India, Wardha
There is no base limit to calculate ex-gratia. Its depend on Management.
It may be given lumpsum.
Generally, most of the organisation go as per Bonus rules.
If you have any other opinion, please share with us.
Thanks & Regards,
Dinesh
From India, Wardha
Dear All,
Greeting......
I want to know that If Manpower of a Company is exceed than 100 employees which legal rules are applicable on Factory.
for example more than 150 canteen shelter applicable
more than 500 employee welfare Officer required.
Thanks & Regards
Jagdish
From India
Greeting......
I want to know that If Manpower of a Company is exceed than 100 employees which legal rules are applicable on Factory.
for example more than 150 canteen shelter applicable
more than 500 employee welfare Officer required.
Thanks & Regards
Jagdish
From India
Dear Ravindra,
An employee is eligible for bonus if his salary or wage does not exceed Rs. 10000/- as per Sec 2(13) of the Act.
Wage includes all remuneration (other than OT) and includes DA and all cash payments but does not include any travelling concessions, retrenchment benefit, contribution by the employer to any gratuity, PF, Pension etc and value in kind as per Sec 2(21) of the Act.
An employee has to work for not less than 30 days in that accounting year as per Sec 8 of the Act.
A minimum of 8.33% or Rs. 100, whichever is higher, has to be paid to the eligible employee at any cost whether the profit is made or not by the company as per Section 10 of the Act.
If an employee's salary or wage exceeds Rs. 3500/- per month, then for the calculation of bonus Rs. 3500/- will be considered as the ceiling amount as per Section 12 of the Act.
From India, Jamshedpur
An employee is eligible for bonus if his salary or wage does not exceed Rs. 10000/- as per Sec 2(13) of the Act.
Wage includes all remuneration (other than OT) and includes DA and all cash payments but does not include any travelling concessions, retrenchment benefit, contribution by the employer to any gratuity, PF, Pension etc and value in kind as per Sec 2(21) of the Act.
An employee has to work for not less than 30 days in that accounting year as per Sec 8 of the Act.
A minimum of 8.33% or Rs. 100, whichever is higher, has to be paid to the eligible employee at any cost whether the profit is made or not by the company as per Section 10 of the Act.
If an employee's salary or wage exceeds Rs. 3500/- per month, then for the calculation of bonus Rs. 3500/- will be considered as the ceiling amount as per Section 12 of the Act.
From India, Jamshedpur
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Amendments and latest provisions related under Labour Laws2011.docx
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