My company stoping all employees yearly bonus who all are earning 15000 & above so I want to know how the bonus calculations work.
From India, Mumbai
From India, Mumbai
Please go through The Payment of Bonus Act, 1965 & relevant Rules.Employees whose basic+DA is Rs21,000/- & below per Month are eligible for Bonus under The Payment of Bonus Act, 1965.please take up the matter with management regarding non payment of Bonus for Employees who are eligible for Bonus
From India, New Delhi
606From India, New Delhi
Dear friend,
I would like to request you to make some efforts first on your own to go through the Enactment pertaining to the subject-matter of your query. Such a self-attempt will enhance your understanding of the subject-matter in its entirety as well as in relation to the situation that prompted your query.
Bonus for industrial employees of certain category is a statutory payment to be paid by the employers annually on the basis of the performance of the establishment subject to certain restrictions as per the Payment of Bonus Act,1965. The ceiling of salary of employees eligible for bonus had been gradually increased from Rs.2500-00 p.m to Rs.3500-00 to Rs.10000-00 and now stands at Rs.21000-00 p.m. effective from 01-04-2014. Similarly the notional amount for calculation of bonus is restricted to Rs.7000-00 p.m. Therefore, it is not clear to me how your management plans to stop payment of bonus to all employees earning above Rs.15000-00 p.m.
From India, Salem
I would like to request you to make some efforts first on your own to go through the Enactment pertaining to the subject-matter of your query. Such a self-attempt will enhance your understanding of the subject-matter in its entirety as well as in relation to the situation that prompted your query.
Bonus for industrial employees of certain category is a statutory payment to be paid by the employers annually on the basis of the performance of the establishment subject to certain restrictions as per the Payment of Bonus Act,1965. The ceiling of salary of employees eligible for bonus had been gradually increased from Rs.2500-00 p.m to Rs.3500-00 to Rs.10000-00 and now stands at Rs.21000-00 p.m. effective from 01-04-2014. Similarly the notional amount for calculation of bonus is restricted to Rs.7000-00 p.m. Therefore, it is not clear to me how your management plans to stop payment of bonus to all employees earning above Rs.15000-00 p.m.
From India, Salem
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