Payment of bonus

Querist : Anonymous (Querist) 21 October 2011 This query is : Resolved
I understand that the minimum bonus payable is 8.33 % of the yearly basic salary.

Maximum bonus is 20 % of the basic salary. Now in between these limits, what is the exact % of bonus payable to their employees by any business operating in Maharashtra?

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mahendrakumar (Expert) 21 October 2011
any business operating in Maharastra are not restricted in giving any bonus.

they can give any % as they like,but not less than 8.33%.

Sailesh Kumar Shah (Expert) 21 October 2011
Apply any of one Provisions to pay bonus :-

1)The employer is bound to pay to his employees every year a minimum bonus of 8.33% of the salary/wage, whether be has any allocable surplus or not.

or

2)When in any year the allocable surplus exceeds the amount of minimum bonus payable to the employees, the maximum bonus payable by the employer to his employees in that year is 20% of the salary/wage.

prabhakar singh (Expert) 21 October 2011
It depends then on the policy of employer as to where between minima and maxima he wants to stay.

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