there is 2 conditions for calculation of bonus,
1. 7000
2. minimum wages
i have two questions pertaining to calculation of Bonus.
if minimum wages is more than 7000/-
a. minimum wages to be considered as on which date ? 31st March or what ?
b. average of everymonth's minimum wage to be considered ?
Please advise.
Thanks & Regards
Amit
Vadodara, Gujarat.
From India, Vadodara
11. 7000
2. minimum wages
i have two questions pertaining to calculation of Bonus.
if minimum wages is more than 7000/-
a. minimum wages to be considered as on which date ? 31st March or what ?
b. average of everymonth's minimum wage to be considered ?
Please advise.
Thanks & Regards
Amit
Vadodara, Gujarat.
From India, Vadodara
Dear all,
The amendment clearly indicates that you have to pay Min Bonus Rs. 7000/- or Min Wages declared by Govt. in the schedule employment whichever is higher. So you have to pay min bonus Rs. 7000/- in any case. If the employee is drawing salary more than Rs. 7000/- then Min Wages declared by Govt. will be the maximum limit. Of course proportionate deduction will be made based on attendance.
From India, Mumbai
The amendment clearly indicates that you have to pay Min Bonus Rs. 7000/- or Min Wages declared by Govt. in the schedule employment whichever is higher. So you have to pay min bonus Rs. 7000/- in any case. If the employee is drawing salary more than Rs. 7000/- then Min Wages declared by Govt. will be the maximum limit. Of course proportionate deduction will be made based on attendance.
From India, Mumbai
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Amendment to Payment of Bonus Act 2015.jpg
Online payment of PF mandatory from 1.1.2016.pdf
PAYMENT OF WAGES ACT 2009.doc