Articles you may Like
The Tamil Nadu Government has issued orders for grant of bonus for workers and employees of Public Sector Undertakings in Tamilnadu. As per these orders, all workers and employees of State Public Sector Undertakings who are drawing a Grade pay of Rs. 4300 in the scale of pay of Rs.9300-34800 and below (Pre-revised scale – Rs. 5300-150-8300 and below) i.e. those who are in the C & D Groups, irrespective of their eligibility, be paid a minimum Bonus of 8.33% and Ex-gratia of 1.67% before 30.09.2011 to claim it as an eligible expenditure under Income Tax Act, subject to the salary ceiling limit of Rs. 35001- for the purpose of determination of Bonus for the year 2010-11 and in relaxation of the eligibility salary ceiling of Rs. 10,0001- as per the Payment of Bonus Act, 1965.
Provisions for bonus in excess of the above percentage in certain cases have been made in the said order. For persons above the salary limits but who worked partly in last year, can be paid proportionate bonus. it has been laid down that for certain corporations like TNSTC, TNEB, Civil SUpplies and the like, separate orders will be issued.
For full details, download G.O.Ms.No.268 dated: 29.09.2011.