Calculation of Bonus | Bonus Act Vs. Wage Code - Part II

#Bonus #WageCode #GovindRajNS #3LRPartner #MinimumWages #IncomeTax #ProfessionalTax
It specifically addresses Set-On and Set-Off Concepts and also Bonus liability for contract labours. This video also explains how your bonus can be calculated and also compares the current law as per Payment of Bonus Act 1965 and Wage Code 2019. It answers connected questions with examples.

[hrirguru]

Marvelous speech and great inputs. Many professionals and even experts are unable to explain with so clarity which the way you have explained. Thank you sir

[hrclinic]

What an amazing clarity on set on and set off and also on the liability for contract labour sir. Great efforts

[virtualhrpartner]

Brilliant explanation and continued discussion on set on and set off and liability in case of contract labour

[goodrichraj]

Very good one sir. Thank you for all your knowledge sharing

[shanuvedio]

Sir,
Great input. Thanks for enlightening us for applicability of PT on BONUS.

[sbpatilmmd]

Thanks for bonus clarification on contract Labours sir
It helps a lot

[sripadkaveli]

Sir thank you for posting video on needed topic. Thank you

[syedactive]

Very nice clarity on bonus calculations, but my question is, there is provision of monthly bonus under bonus act as it is based on profit and loss for the previous financial year, how and why it can be calculated on monthly basis, , Govindaraju

[ajaylondhey]

As mentioned in the speech for contractor workers principle employer shall have to pay min bonus of 8.33% where contractor fails to pay bonus, then the money spent by company and amount be adjusted in Seton or setoff

[psraju]

Sir, if the establishment is exempted for payment of Bonus, then contract workmen are eligible to claim the Bonus.

[buildyourself]

1.Dose there any rules are there under POB act for Karnataka or central rules will applicable to all States and UTs
2. If it is collected on gross then OT, attendance allowance and all allowances will be included
3. If yes then what if any month's salary exceeds to 21k and in that financial year the salary will decrease
4. form D has to submit to the inspector before the 30th of December am i right
4. Form A, B, C, has to be maintained in the organisation am I right...?
5. Could you please tell me about form C.

[thiyagarajanj]

Sir as per the workmen compensation act if any employee meet accident while traveling through company transport. Will it comes under the the Workmen compensation Act (Accident happened). Kindly clarify. Thanks in advance
Thiyagarajan J

[nnagaraju_varmanamburi]

Sir esi calculaton per new code hrs and other allowncess excluded please clarify

[shanuvedio]

Sir, a small clarification needed.

1) The Bonus should be calculated on Rs 7, 000/- or Min wages whichever is higher
2) The "Wage" for Bonus calculation consist of all the allowances including DA which makes a contract.
3) The basic wage should not be less than minimum wages as per MW act.

In this case "NO NEED" to look at those allowances (which are part of the wages) as we have already took Min wage for Bonus calculation.


Is that correct?

[vijaydeshmukhbathroomsinger]

If any employee gets wages below minimum wage or Rs.7000, then whether he will receive bonus on the amount less than 7000 or he will get bonus the limit mentioned I.e. 7000 or minimum wage?

[MrSkr]

Sir, please suggest if employees having salary gross 18000/- and basic 13000/- so what amount to be calculated on bonus basic or gross, please tell me

[santhoshshetty]

There was some calculation to bonus 250, 000.00 gross salary

[gowrishankarsivakumar]

Sir
is contract employees are eligible for Bonus as per the Bonus Act ?

[rafunselpresentation]

Hi sir. Good informatic videos u done. Really appreciated. Please make a video for how to prepare Form A, B, C, D. As per Payment of Bonus Act. Please clarify wr we need to submit this annual return via online or offline.
Thank you.