Does bonus include customary bonus? Is Customary bonus adjustable against the statutory bonus ?
From India, Jamnagar
From India, Jamnagar
As per Sec-17 of PB Act any organization can adjust the customary bonus with statutory bonus.
Customary bonus is very common in India. It is for different customs- Durga puja, Eid, Dewali, X-Mas etc. bonus are paid to employees. Moreover, there are lot of organizations who are paying bonus without considering available surplus, allocable surplus, set on & set off. That is also customary bonus.
We have one client who are paying bonus two months of Basic & DA without any upper limit which is also customary bonus.
S K Bandyopadhyay ( WB, Howrah)
CEO-USD HR Solutions
+91 98310 81531
USD HR Solutions – To Strive towards excellence with effort and integrity
From India, New Delhi
336Customary bonus is very common in India. It is for different customs- Durga puja, Eid, Dewali, X-Mas etc. bonus are paid to employees. Moreover, there are lot of organizations who are paying bonus without considering available surplus, allocable surplus, set on & set off. That is also customary bonus.
We have one client who are paying bonus two months of Basic & DA without any upper limit which is also customary bonus.
S K Bandyopadhyay ( WB, Howrah)
CEO-USD HR Solutions
+91 98310 81531
USD HR Solutions – To Strive towards excellence with effort and integrity
From India, New Delhi
Community Support and Knowledge-base on business, career and organisational prospects and issues - Register and Log In to CiteHR and post your query, download formats and be part of a fostered community of professionals.
Bigger bonuses for more as Lok Sabha amends Payment of Bonus Act - The Economic Times.pdf
THE PAYMENT OF BONUS ACT.doc