hi everyone,
Can bonus be given in monthly salary ?? Need to know this URGENTLY
Because i am observing that most of the company paying bonus in monthly salary.
And as per mine knowledge if you add bonus in monthly salary then it will become the part of salary component.
And Esi will be applicable on this.
ANd as per bonus act 1965 bonus will be disbursed upon company profit and sharing basis. After completion of Financial year bonus can be given with in next eight month.
Now question arise if you paid bonus in advance means quarterly, half yearly and whatsoever then it could be add in salary ?????
As per mine knowledge it can not be add in salary if we are disbursing bonus in advance then it will be on separate disbursement sheet not with salary???? please clear me if i am wrong.
Because bonus is statutory right of each employee and esi does not applicable on it. And it should be given after completion of financial year once company balance sheet prepared and profit and loss arise.
if company giving with monthly salary then it breaking the law???
because how can they fix the bonus percentage without clearing the current financial year profit and loss.
please this doubt
From India, Chandigarh
140Can bonus be given in monthly salary ?? Need to know this URGENTLY
Because i am observing that most of the company paying bonus in monthly salary.
And as per mine knowledge if you add bonus in monthly salary then it will become the part of salary component.
And Esi will be applicable on this.
ANd as per bonus act 1965 bonus will be disbursed upon company profit and sharing basis. After completion of Financial year bonus can be given with in next eight month.
Now question arise if you paid bonus in advance means quarterly, half yearly and whatsoever then it could be add in salary ?????
As per mine knowledge it can not be add in salary if we are disbursing bonus in advance then it will be on separate disbursement sheet not with salary???? please clear me if i am wrong.
Because bonus is statutory right of each employee and esi does not applicable on it. And it should be given after completion of financial year once company balance sheet prepared and profit and loss arise.
if company giving with monthly salary then it breaking the law???
because how can they fix the bonus percentage without clearing the current financial year profit and loss.
please this doubt
From India, Chandigarh
Hi,
Paying Bonus on monthly basis is a wrong process.
Strictly speaking Bonus to be calculated on the basis of the performance and profit of the organisation which cannot be calculated in advance.
If Bonus is paid as part of salary then ESI also to be calculated including Bonus amount ( if the member is within the ESI limit).
From India, Madras
Paying Bonus on monthly basis is a wrong process.
Strictly speaking Bonus to be calculated on the basis of the performance and profit of the organisation which cannot be calculated in advance.
If Bonus is paid as part of salary then ESI also to be calculated including Bonus amount ( if the member is within the ESI limit).
From India, Madras
Hi,
Bonus as part of monthly wages is followed in contract Labour engagement cases. min bonus considered and paid along with salary as it is convenient and reaches contract workmen directly. while calculation annually contractor claims all eligible, while actual payment for left and less worked cases would be difficult to trace. Hence on roll its annual as book closure and contracts are managed through monthly is ideal option followed.
From India, Mysore
Bonus as part of monthly wages is followed in contract Labour engagement cases. min bonus considered and paid along with salary as it is convenient and reaches contract workmen directly. while calculation annually contractor claims all eligible, while actual payment for left and less worked cases would be difficult to trace. Hence on roll its annual as book closure and contracts are managed through monthly is ideal option followed.
From India, Mysore
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Amendment to Payment of Bonus Act 2015.jpg
Bonus act amendment gazette copy.pdf
Bonus-amendment _206.doc