In the Payment of Bonus Act, 1965 ceiling for computation of salary is rs. 3,500 or rs. 10,000? Thx in adv.
2 Replies
Ajay Mishra
(Company Secretary)
(74337 Points)
Replied 29 September 2010
Mr. Dixit
Please go to the following Link:
https://labourandemployment.gov.in/labcom/e-citizen/paytofbonusact.htm
Payment of Bonus Act, 1975 extends to the whole of India and applies to every factory and every other establishments in which 10 or more persons are employed on any day during an accounting year (Gujarat State Amendment). The salary limit of employee for eligibility to get bonus under the Act is Rs. 10,000/- pm. Every employer shall pay to every employee a minimum bonus of 8.33% of the salary or wages earned by the employee during the accounting year or one hundred rupees, which ever is higher. The bonus shall be paid within a period of 8 months from the close of accounting year unless there is a dispute. Penalties are provided in the Act for violation.
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