Hello sir, I have a small query about the Bonus amount, I was working with a company last 3 years and after that i resigned from the Company and full fill all the formalities, but when i received my F&F amount, i saw there is my Bonus amount is missing, i asked to the employer about this, so he said we can hold the Bonus amount till 8 month after the financial year start.
I resigned in the month of July 2019.
as per my Information F&F should be done within a month and all the Dues should be clear in F&F.
But i just need to know that bonus amount is not include in F&F is correct or not
From India, Kolkata
I resigned in the month of July 2019.
as per my Information F&F should be done within a month and all the Dues should be clear in F&F.
But i just need to know that bonus amount is not include in F&F is correct or not
From India, Kolkata
Hi Nikhil,
It seems your previous employer is correct when they state that the bonus amount shall be paid before the completion of 8 months from the start of the current financial year. So, ideally by the end of Oct'19, you should be receiving the bonus payment though you have exited from the organisation. You are still eligible for the bonus payout, only that it would be paid separately and not as part of your final settlement here.
From India, Bengaluru
61It seems your previous employer is correct when they state that the bonus amount shall be paid before the completion of 8 months from the start of the current financial year. So, ideally by the end of Oct'19, you should be receiving the bonus payment though you have exited from the organisation. You are still eligible for the bonus payout, only that it would be paid separately and not as part of your final settlement here.
From India, Bengaluru
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Amendment to Payment of Bonus Act 2015.jpg
Bonus act amendment gazette copy.pdf