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The Payment of Bonus Act, 1965 provides for a minimum bonus of 8.33 percent of wages. The salary limited fixed for eligibility purposes is Rs. 3,500 per month and the payment is subject to the stipulation that the bonus payable to employees drawing wages or salary not exceeded to Rs.10000 per month would be calculated as if their salary or ...
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14 Μαρ 2024 · Calculation of Bonus as per Bonus Act (Amendment of 2015) If the gross earning of your employees is below Rs.21000 you are eligible to pay a bonus. Calculation of bonus will be as follows: If Basic+DA is below Rs.7000 then the bonus will be calculated on the actual amount. If Basic+DA is above Rs.7000 then the bonus will be calculated on Rs.7000.
impose a statutory obligation on an employer of every establishment covered by the Act to pay bonus to employees in the establishment; lay down principle and formula for calculation of bonus; provide for payment of minimum and maximum bonus and linking the payment of bonus with the scheme of set-on and set-off; and.
THE PAYMENT OF BONUS ACT, 1965. (21 OF 1965) [25th September, 1965.] [An Act to provide for the payment of bonus to persons employed in certain establishments on the basis of profits or on the basis of production or productivity and for matters connected therewith.]
Calculation of Bonus as per Bonus Act (Amendment of 2015) If the gross earning of your employees is below Rs.21000 you are eligible to pay a bonus. Calculation of bonus will be as follows: If Basic+DA is below Rs.7000 then the bonus will be calculated on the actual amount. If Basic+DA is above Rs.7000 then the bonus will be calculated on Rs.7000.
The Payment of Bonus Act of 1965 imposes a contractual obligation on employers to pay bonuses to employees in proportion to the resources available for the establishment's smooth functioning.
10 Μαΐ 2021 · Applicability of Payment of Bonus Act. The act applies to all companies throughout India. The provisions of this act are applicable to –. Companies that are well-defined under clause 2 of the companies act 194b. Organisations with 20 or greater than 20 employees anytime during an accounting year. Some factories or companies in public sectors.
