Bonus Eligibility [Thread 364176]

yes you are entitled for bonus.
as per bonus act an employee who has completed 30 days in last finicial year has eligible for bonus.

Dear [Login to view]
Thanks for your reply but my query is unattended.It is
1 If a person join 15 of march 2011,he will not be eligible for 2010-11 bonus, as he is not completing 30 days in that bonus period. If he works for full year in next yr while disbursing next yr bonus this 15 day bonus will be added?
2 If statutory bonus is taxable or non taxable. that is 3500*20%*no of month in a year for max stat. bonus or 3500*8.33%*no of month in a year for min stat.bonus.

Dear all,
I have doubt here, the salary bracket (3500-10000) which is considered for the computation of Bonus, should be the gross or the basic.. As this is grey area, it is debatable..
So please confirm, what salary constitues ??
Regards,
Ashok Kumar M

Dear Mr.Ashok Kumar M
It is upto 10,000 if basic is bonus will be calculated 3500 as basic salary.
Regards
Saurav Banerjee

Dear Saurav,
Thanks for the Quick response
The defined salary as basic salary is nowhere mentioned in any of the circular or the notification of bonus act..
But as per Payment of Wages Act, the salary is constitutes, Basic+DA+VDA and all the other allowances except the reimbursement components.
So I seek the clarity on the same.
Please help.
Regards,
Ashok Kumar M

Dear Sir,
If a person who draws his gross wages more than 10,000 may be around 30,000. Will also be eligible for the Bonus?.

As per the relevant provisions of The Payment of Bonus Act,1965, such of those employees who have put in a minimum service of 30 days in an accounting year are eligible to bonus. And the minimum bonus is Rs.100/- or 8.33% of Basic and DA whichever is more.
Thanks
Sanu Soman
HR Manager

Dear All,
If an employees salary up to Dec 2010 is less than 10000 per month and from jan 2011 onwards is more than 10,000 per month, whether he is eligible for bonus

Dear all,
thanks for your replies. my basic is Rs. 12300 and my net salary is Rs.14000/- so what will be the bonus amount for the month of Dec.2010 - march 2011.
dhanya

Dear Dhanya,
You're are covered under payment of Bonus Act 1965.
Only for those basic salary is 10000/Month and below.
Ashok