Bonus Claculation

Rizwan Pathan (Querist) 11 June 2011 This query is : Resolved
Dear Sir,

What is the limit of 10000 in Bonus act.

If a person getting more then 10000 basic then he will rntitle to get bonus or not.

What is the calculation amount 3500 used fro.

Thanks & regards,

Rizwan Pathan

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prabhakar singh (Expert) 11 June 2011
The BONUS Act says

01. "EVERY EMPLOYEE WHOSE SALARY OR WAGE DOES NOT EXCEED
RS.3,500.00 PER MONTH IS ELIGIBLE FOR BONUS.PROVIDED HE
HAS WORKED IN THAT ESTABLISHMENT FOR NOT LESS THAN 30
WORKING DAYS IN THAT ACCOUNTING YEAR.

02. CEILING AMOUNT RS. 2,500.00.

03. BONUS SHOULD BE PAID WITH IN A PERIOD OF 8 MONTH FROM
THE CLOSURE OF THE ACCOUNTING YEAR.

But some trade unions are raising this point of raising the ceiling of bonus but not yet ammended

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