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1 Φεβ 2019 · The Payment of Bonus (Amendment) Rules, 2019. Language English. File Attached: The_Payment_of_Bonus (Amendment)Rules,2019.pdf. Start Date to End Date: Friday, February 1, 2019 - 15:45 to Saturday, February 1, 2020 - 18:45. Accessibility Statement. Terms & Conditions.
- Information on Payment of Bonus - Ministry of Labour & Employment
The minimum bonus of 8.33% is payable by every industry and...
- Information on Payment of Bonus - Ministry of Labour & Employment
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, 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 ...
The minimum bonus of 8.33% is payable by every industry and establishment under section 10 of the Act. The maximum bonus including productivity linked bonus that can be paid in any accounting year shall not exceed 20% of the salary/wage of an employee under the section 31 A of the Act.
The government has approved amendments that have not only increased the amount paid out but also the number of people who are eligible. Here are the recent changes to the act: 1. Wage limit increased from Rs. 10,000 to Rs. 21,000. Earlier this act only covered employees that were earning up to Rs. 10,000 per month and lower.
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.]
For the purposes of calculation of the bonus to be paid to an employee under the Principal Act, INR 3,500 (Indian Rupees Three Thousand Five Hundred) per month was the maximum amount taken even if an employee was drawing up to INR 10,000 (Indian Rupees Ten Thousand Only) per month.