Bonus Act

This query is : Resolved

narender (Querist)
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12 August 2010 Hi

Is there is any maximum limit of salary/ wages under Bonus Act.....????

after which this act will not apply to the company.....

Acctually a IT sector company is not paying any employee less then 9000/- per month
so in that case Bonus Act apply to that company or not????

As per my knowledge there is no maximum limit of salary for applicability of act
but for computation of bonus only 3500/- will be taken

in that case Bonus act will apply to that comany

pls specify
m i correct???

thanks

CMA. Subhash Kumar Jha

CMA. Subhash Kumar Jha (Expert)
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12 August 2010 For eligibility of bonus act : Salary limit is Rs. 10000/- per month &

For calculation of bonus : salary limit is 3500/- per month.

So in your case bonus act will apply.