I would like a clarification on the statement made by you :
We have 3 employees in our firm whose salary is 150000 lakhs plus so they are eligible for bonus?
These employees have a monthly salary of Rs. 1.5 lakhs ? or annual salary of Rs. 1.5 lakhs
And i dont think it can be 1.5 lakh lakhs can it ?
It would be better if you give actual details of the salaries, including the breakup of the salaries
From India, Mumbai
2358We have 3 employees in our firm whose salary is 150000 lakhs plus so they are eligible for bonus?
These employees have a monthly salary of Rs. 1.5 lakhs ? or annual salary of Rs. 1.5 lakhs
And i dont think it can be 1.5 lakh lakhs can it ?
It would be better if you give actual details of the salaries, including the breakup of the salaries
From India, Mumbai
You can read this article that explains the bonus act. Interpreting Payment of Bonus (Amendment) Act, 2015 | CompliFacts
From India, Delhi
From India, Delhi
Dear Mitaali.
First to need to check out weather your
Firm is in the purview of bonus act. Or not As per sec 1(3)(b) after that you need to check
Out weather your firm is in the purview
of exemption of newly establishment upto
Five year as defined in sec 16 of bonus act.
If both the condition is satisfied in respect
Of bonus payment then finally check weather
Employee basic plus DA is less then 21K
Or equal to 21K as defined in sec 2(13)
Of bonus act. If all these criteria is met
& let the employee to get bonus then
Calculate the bonus as per sec 10, 11, 12
Of bonus act. And pay accordingly.
Thanks & Regards
V Shakya
HR & Labour Law Advisor
From India, Agra
First to need to check out weather your
Firm is in the purview of bonus act. Or not As per sec 1(3)(b) after that you need to check
Out weather your firm is in the purview
of exemption of newly establishment upto
Five year as defined in sec 16 of bonus act.
If both the condition is satisfied in respect
Of bonus payment then finally check weather
Employee basic plus DA is less then 21K
Or equal to 21K as defined in sec 2(13)
Of bonus act. If all these criteria is met
& let the employee to get bonus then
Calculate the bonus as per sec 10, 11, 12
Of bonus act. And pay accordingly.
Thanks & Regards
V Shakya
HR & Labour Law Advisor
From India, Agra
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Salary-Note.doc
SALARY SHEET CALCULATION.xls