RSS Feed. But, the word "CTC" doesn't find any place at all. are related with Basic salary hence increase and decrease in Basic may impact CTC of employee. Regards, Kamlesh Follow. The joining bonus will be subject to statutory and income tax deductions as applicable. Statutory Bonus: This is calculated as 8.33% of Rs. 1.

(a) Revision of wage threshold for eligibility: The wage threshold for determining eligibility of employees has been revised from INR 10,000 to INR 21,000 per month, covering a larger pool of employees. Many statutory components such as Provident Fund, Bonus and Gratuity etc and other benefits as per company policy such as Leave Travel Allowance etc. Statutory bonus India.

you can take 8.33% (min) to 20% (max) of basic in computing ctc. It is a statutory bonus which is paid to employees whose basic is less than or equal to Rs 21,000/-. Bonus payment may be declared by the company each year around Diwali time.

Hi All experts, I have few doubts here related to Bonus.

A free inside look at State Street bonus trends based on 6,167 bonuses wages for 6,167 jobs at State Street. Monthly Gross (or) Fixed CTC = Basic + HRA + Conveyance + Advance Bonus + Medical + Shift Allowance I am not receiving my Statutory Bonus Payment. Many organisation are considering bonus as a part of ctc .

Bonus is not a reward.it is given to an employee for contributin to the prosperity of employes. The law stipulates that even when the company makes a loss, it is obliged to pay a bonus of 8.33% and whatever the profits, the company cannot pay bonus exceeding 20%. But statutory bonus is determined first on the basis of Schedule-I or II (as applicable) of Payment of Bonus Act to arrive at available surplus and then allocable surplus. Variable bonus can be included as one of the Head in the CTC to form part of a compensation. Rs 292/- and Maximum 20% of Basic capped at Rs. It depends on Company's CTC structure. The bonus is based on company’s performance for the year ended 31th march. Minimum bonus payable is 8.33% of basic capped at Rs 7,000/- or minimum wage of the state whichever is maximum and maximum 20% of Basic capped at Rs 7,000/ or minimum wage of the state whichever is higher-. Frequently asked questions on Payment of Bonus Act, 1965, in India ... Statutory Bonus is calculated if monthly basic is less than or equal to Rs.10000 per month. Bonus shall be paid as per bonus act. Payment of Bonus Act; Payment of bonus act applicability. Minimum bonus payable is 8.33% of basic capped at rs 3500/- - i.e. My query is regarding Statutory bonus paid to employees.

Bonus is not applicable to those persons no longer employed with the company at the time of payment of bonus. ltc, encashment, notice pay etc., are found in tax laws in the sense their tax treatment is well laid. Generally, it is 40% to 50% of CTC (Cost to Company). If employee having Basic and DA less then of 3500 or equal to 3500, it is calculating perfectly fine. That's a variable component of CTC which will be paid after YEA-YEAR END APPRAISAL PROCESS based on the performance rating you will receive this. 3500/-. Bonus calculation. We have focused on the Eligibility of employees who will get bonus and calculation of statutory bonus.

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Download notification of an amendment to Payment of Bonus Act 2015: Ceiling from 10,000 Rs to 21,000. The joining bonus will be recovered in case you leave CTS within one year of joining. Answers Include Comments Get RSS Feed. Statutory bonus … 03 June 2010 Words such as salary, dearness allowance, provident fund, bonus, gratuity. For PAT it will be same for all like roughy figure is 75–85% but after becoming PA you will be …