Dear..All, Please inform me regarding Extra Gratia..? Some companies pay as Bonus+Ex. Gratia... SO Please inform me!
From India, Hyderabad
8From India, Hyderabad
Dear Moger,
One common example of an ex gratia payment is an extra payment made to an employee when she is laid off. A company may offer benefits above those mandated by law as an expression of thanks for service or to compensate for the job loss. The company is not admitting any wrongdoing by offering this expression of goodwill, and the employee could chose to turn the payment down if there was a compelling reason to do so.
Regards
Mukesh sharma
From India, Delhi
One common example of an ex gratia payment is an extra payment made to an employee when she is laid off. A company may offer benefits above those mandated by law as an expression of thanks for service or to compensate for the job loss. The company is not admitting any wrongdoing by offering this expression of goodwill, and the employee could chose to turn the payment down if there was a compelling reason to do so.
Regards
Mukesh sharma
From India, Delhi
Dear Mr. Moger,
Bonus is paid to the employees who are drawing salary upto Rs. 10,000/- p.m. whereas Ex-gratia is paid to those employees who are drawing salary more than Rs. 10,000/- p.m. The difference between bonus and ex-gratia is that bonus is mandatory and ex-gratia is optional.
The rate of bonus may be 8.33% (minimum) or above as per Company's policy.
From India, Lucknow
Bonus is paid to the employees who are drawing salary upto Rs. 10,000/- p.m. whereas Ex-gratia is paid to those employees who are drawing salary more than Rs. 10,000/- p.m. The difference between bonus and ex-gratia is that bonus is mandatory and ex-gratia is optional.
The rate of bonus may be 8.33% (minimum) or above as per Company's policy.
From India, Lucknow
Hi Mr. C S Shukla, I wanted to Know wat if a company shows Ex gratia in CTC. is it compulsory to pay???
From India, Hyderabad
From India, Hyderabad
Although, it is not compulsory but Companies pay ex-gratia. Amount of the ex-gratia may be vary from Company to Company, according to the policy of the Company. Further, it can not be taken into CTC because it is not certain.
From India, Lucknow
From India, Lucknow
In bonus paying there is ceiling of 3500. The employees whose basic is more than 3500 also get bonus on 3500.
If the employer declare bonus on the actual basic and not on the 3500. Then this extra amount will also called EXTRA GRATIA.
And if employer declares bonus for the employees whose basic is more than 10000. then this amount is also called EXTRA GRATIA.
From India, Gurgaon
If the employer declare bonus on the actual basic and not on the 3500. Then this extra amount will also called EXTRA GRATIA.
And if employer declares bonus for the employees whose basic is more than 10000. then this amount is also called EXTRA GRATIA.
From India, Gurgaon
Thank u for the reply Mr. Shukla, Though bonus/ Ex gratia is can not be taken into CTC, but company shows it in CTC. still its in the company’s hand whether to pay not to pay Bounus
From India, Hyderabad
From India, Hyderabad
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