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Bonus Act

bvijaykk - Member Since: Oct 2008
Subject - Bonus Act

Dear all,

Please calrify that whether paying Bonus is mandatory for every company or it is an option, since some of the companies are not paying the bonus. what is the criteria and what is 8.33%.

Thanks & Regards,
vijaykk

shyamalkishoremisra - Member Since: Nov 2008
Subject - Re: Bonus Act

Hi
Bonus is applicable to all perevnnial industries but if an organisatin is new it will start ginving bonus from sixth year from the year when manufacturing starts applying set on and off
8.3% is minimum bonus an 20 % is maximum of one's salary subjecting to maximum of Rs 3500
Every one getting salary upto Rs 10000

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