Can We Deduct The Esic On Annual Bonus
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Thanks for above mention same ..Dear Sir,This has reference to Bonus act ceiling limit ( 3500 to 10000 ), please advice -if company is providing Bonus on to all employee whose basic salary (Basic +VDA) more than 10000 as per previous practice from initially .But...
Dear Sir,Thank you for your reply. In addition to the bonus, we also provide ex-gratia payments during the bonus distribution to all employees, following our established practice.
Dear Vishal ji,Bonus is calculated on the earned salary or wage as defined in the Act, i.e., basic + DA. The amount paid by ESI to IP during his ESI leave is not considered salary or wage as defined in the Act. Therefore, no bonus is calculated on the amount pai...
Bonus payment is based on the wages earned. In case of ESI leave, he is not receiving any wages; hence, no bonus will be granted.
Thank you, Mr. Amit, for your response. I have noticed that many service providers are deducting ESIC and PF when they pay their workers below the minimum wage. How is this possible? Your insights would be appreciated.
No, you can't deduct as per the minimum wages law.
Hello all, can anyone suggest me can we deduct PF and ESIC below the minimum wages?–-Hello all,Can anyone suggest if we can deduct PF and ESIC below the minimum wages?
Dear Team,In terms of contract employment, if the annual bonus amount is paid on a monthly salary and included in the salary register, do we need to deduct the ESI and PF for the payment of the monthly bonus? Kindly provide your opinion on the same.
Dear Mr. Shailesh Parikh,Since the above bonus payment is paid for the 12 months for the employees, we must consider the ESIC wage. Please indicate your response with a simple "yes" or "no."
Dear Karthi,Since the periodicity of payment of the bonus amount is less than 2 months, it will be considered as wages under Sec.2(22) of ESIC. Please refer to the following:"Bonus paid to employees could not be treated as wages for the purpose of charging contr...