Hello all,
Do we include bonus as part of full and final settlement? When an employee leaves prior to the company declaring bonus for that year (for eg Feb he leaves and bonus is usually given in Oct), is the company liable to pay his share of bonus as part of full and final settlement?
Kindly respond.
Thanks.
From India, Bangalore
2Do we include bonus as part of full and final settlement? When an employee leaves prior to the company declaring bonus for that year (for eg Feb he leaves and bonus is usually given in Oct), is the company liable to pay his share of bonus as part of full and final settlement?
Kindly respond.
Thanks.
From India, Bangalore
Hi!
If you show bonus in CTC then you hv 2. Generally bonus is paid ( @8.33% per month on basic + DA) for every financial yr. if salary is upto Rs.2500/- per month. other wise this may be called as exgratia. The payment is linked with number of days worked (including leave with salary) in any particular fin. year.
Normally all organisation give the bonus amount at the time of full & final settlement.
Regards,
From India
If you show bonus in CTC then you hv 2. Generally bonus is paid ( @8.33% per month on basic + DA) for every financial yr. if salary is upto Rs.2500/- per month. other wise this may be called as exgratia. The payment is linked with number of days worked (including leave with salary) in any particular fin. year.
Normally all organisation give the bonus amount at the time of full & final settlement.
Regards,
From India
Usually company pay bonus with in eight months from the end of financial year. It is not question whether employee is covered under payment of bonus act or not. If your appointment letter and compensation terms agree to pay bonus company is liable to pay bonus at the end of financial year. Some company clear bonus with final settlement or some pay at the end of financial year after declare bonus rate. What ever the case you should get bonus.
Suvajit Choudhury
From India, Delhi
Suvajit Choudhury
From India, Delhi
Hi, As we give the bonus for the work done profit generated in a previous year, it should be included in the full & final.
From India, New Delhi
From India, New Delhi
Hi All,
Please help me in this regard.
My appointment letter shows a component of Annual Bonus which was to be paid to me on serving the company for a year. I am a confirmed employee with the company and need to give a two months notice or two monnths of basic salary on resigning.
Please help me to know, is company liable to pay that bonous amount in full or can make some deductions out of it.(Nothing is mentioned in this regard in my offer/appointment letter)
Also if I leave the company without proper notice can I claim my balance bonus amount after deducting two months of my basic salary from the bonus amount in my F&F.
Thanks
Anurag Gera
From India, New Delhi
Please help me in this regard.
My appointment letter shows a component of Annual Bonus which was to be paid to me on serving the company for a year. I am a confirmed employee with the company and need to give a two months notice or two monnths of basic salary on resigning.
Please help me to know, is company liable to pay that bonous amount in full or can make some deductions out of it.(Nothing is mentioned in this regard in my offer/appointment letter)
Also if I leave the company without proper notice can I claim my balance bonus amount after deducting two months of my basic salary from the bonus amount in my F&F.
Thanks
Anurag Gera
From India, New Delhi
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