Hello,
I have a query regarding bonus payment.Bonus is calculated for a financial year.If a person works for only 5 to 10 days in one month. Is he/she is eligible for bonus?
Is there any constraint that a person should work x days then only he will get the bonus..
From India, Pune
3I have a query regarding bonus payment.Bonus is calculated for a financial year.If a person works for only 5 to 10 days in one month. Is he/she is eligible for bonus?
Is there any constraint that a person should work x days then only he will get the bonus..
From India, Pune
Dear Sukanya,
The payment of bonus act, 1965 does provide such specifications:
According to Payment of Bonus Act 1965:
Section 8:
Eligibility for bonus.—Every employee shall be entitled to be paid by his employer in an accounting year, bonus, in accordance with the provisions of this Act, provided he has worked in the establishment for not less than thirty working days in that year.
Section 14:
Computation of number of working days. — An employee shall be deemed to have worked in an establishment in any accounting year also on the days on which—
(a) He has been laid off under an agreement or as permitted by standing orders under the Industrial Employment (Standing Orders) Act, 1946
(b) He has been on leave with salary or wage;
(c) He has been absent due to temporary disablement caused by accident arising out of and in the course of his employment
(d) The employee has been on maternity leave with salary or wage, during the accounting year.
Regards,
Ramya Ranjan
From India, Bhubaneswar
The payment of bonus act, 1965 does provide such specifications:
According to Payment of Bonus Act 1965:
Section 8:
Eligibility for bonus.—Every employee shall be entitled to be paid by his employer in an accounting year, bonus, in accordance with the provisions of this Act, provided he has worked in the establishment for not less than thirty working days in that year.
Section 14:
Computation of number of working days. — An employee shall be deemed to have worked in an establishment in any accounting year also on the days on which—
(a) He has been laid off under an agreement or as permitted by standing orders under the Industrial Employment (Standing Orders) Act, 1946
(b) He has been on leave with salary or wage;
(c) He has been absent due to temporary disablement caused by accident arising out of and in the course of his employment
(d) The employee has been on maternity leave with salary or wage, during the accounting year.
Regards,
Ramya Ranjan
From India, Bhubaneswar
Every employee not drawing salary/wages beyond Rs. 10,000 per month who has worked for not less than 30 days in an accounting year, shall be eligible for bonus for minimum of 8.33% of the salary/wages even if there is loss in the establishment whereas a maximum of 20% of the employee’s salary/wages is payable as bonus in an accounting year.
From India, Gurgaon
From India, Gurgaon
Dear Kiran Bhatnagar,
Pls note the statutory Wage Ceiling for calculation the Bonus has been increased to Rs. 21K. The minimum bonus is Rs. 7K or the minimum wage for the scheduled employment, as fixed by the appropriate Government, whichever is higher. The revised Bonus rules are applicable wef Apr. 14. PFA the notification for your ready reference.
In relation to Bonus payment in r/o loss, I would like to add if it is a startup (new) establishment and making loss in the initial three years than it is not mandatory for such establishment for making Bonus payment as per the provisions of the Act.
Fellow members can correct me.
From India, Delhi
Pls note the statutory Wage Ceiling for calculation the Bonus has been increased to Rs. 21K. The minimum bonus is Rs. 7K or the minimum wage for the scheduled employment, as fixed by the appropriate Government, whichever is higher. The revised Bonus rules are applicable wef Apr. 14. PFA the notification for your ready reference.
In relation to Bonus payment in r/o loss, I would like to add if it is a startup (new) establishment and making loss in the initial three years than it is not mandatory for such establishment for making Bonus payment as per the provisions of the Act.
Fellow members can correct me.
From India, Delhi
Dear Miss Sukanys, are you referring to "Part Time Employee"? Please take total days for which Employee has been paid salary for determining Bonus eligibility.As Honoured Members have pointed out , if Employee has been paid Salary for 30 days in a Financial Year, he is eligible for Bonus.
From India, New Delhi
From India, New Delhi
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