I am srikanth, i joined aug 1, 2013, now i resigned(01-08-2014)the job due personal problems. Did i get bonus from factory, kindly suggest me
From India, Jalgaon
From India, Jalgaon
Dear Shrikant,
The payment of Bonus is depending on the below things:-
1. How old is the company? Is it more than 5 years old?
2. Has the company applied for any waiver based on company non performance?
3. Were you in worker category or in management category?
4. What was your salary? Was it below 10,000 or above 10,000/-
Kindly answer these questions for anyone to guide you in your queries?
Regards,
Ashutosh Thakre
From India, Mumbai
273The payment of Bonus is depending on the below things:-
1. How old is the company? Is it more than 5 years old?
2. Has the company applied for any waiver based on company non performance?
3. Were you in worker category or in management category?
4. What was your salary? Was it below 10,000 or above 10,000/-
Kindly answer these questions for anyone to guide you in your queries?
Regards,
Ashutosh Thakre
From India, Mumbai
Dear Mr. Asuthosh, My Gross salary is 10200 per monthly my company established in 2005 my role is Accounts Executive i have an right to fight for Bonus. i need you help.
From India, Jalgaon
From India, Jalgaon
HI,
In the first five accounting year following the accounting year in which the employer sells the goods produced or manufactured by him or renders services, as the case may be, from such establishment, bonus shall be payable only in respect of the accounting year in which the employer derives profit from such establishment and such bonus shall be calculated in accordance with the provisions of this act in relation to that year but the concept of set off and set on will not apply.
Eligibility of bonus
Every employee whether on probation, part time, contractual, permanent, supervisor or manager whose wage is less than or equal to Rs 10000/- and has completed 30 days in an accounting year is eligible for bonus. Apprentice under Apprentice act are not eligible.
From India, Mumbai
In the first five accounting year following the accounting year in which the employer sells the goods produced or manufactured by him or renders services, as the case may be, from such establishment, bonus shall be payable only in respect of the accounting year in which the employer derives profit from such establishment and such bonus shall be calculated in accordance with the provisions of this act in relation to that year but the concept of set off and set on will not apply.
Eligibility of bonus
Every employee whether on probation, part time, contractual, permanent, supervisor or manager whose wage is less than or equal to Rs 10000/- and has completed 30 days in an accounting year is eligible for bonus. Apprentice under Apprentice act are not eligible.
From India, Mumbai
Dear Seniors,
As per the act section 2 (21) Salary or wage means all remuneration (Other than Over time work) capable being expressed in terms of money which would, if the terms of employment, express or implied, were fulfilled, be payable to an employee in respect of his employment or of work done in such employment including DA but done not include (i) any other allowance which the employee is for the time being entitled to;
please let me know what are the allowance not included in wage or salary, as it is not clear what are the allowance to exclude.
for example, if an employee is drawing a salary of Rs.18000/- and the breakup is as follows:
Basic + DA : 10000/-
HRA : 5000/-
Conveyance: 800/-
LTA : 833/-
Medical: 833/-
Spl Allowanace:534/-
for bonus eligibility we have to consider only basic + DA or total gross salary.
Please clarify me.
Thanking you,
From India, Calcutta
As per the act section 2 (21) Salary or wage means all remuneration (Other than Over time work) capable being expressed in terms of money which would, if the terms of employment, express or implied, were fulfilled, be payable to an employee in respect of his employment or of work done in such employment including DA but done not include (i) any other allowance which the employee is for the time being entitled to;
please let me know what are the allowance not included in wage or salary, as it is not clear what are the allowance to exclude.
for example, if an employee is drawing a salary of Rs.18000/- and the breakup is as follows:
Basic + DA : 10000/-
HRA : 5000/-
Conveyance: 800/-
LTA : 833/-
Medical: 833/-
Spl Allowanace:534/-
for bonus eligibility we have to consider only basic + DA or total gross salary.
Please clarify me.
Thanking you,
From India, Calcutta
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Bonus act amendment gazette copy.pdf
THE PAYMENT OF BONUS ACT.doc