Dear All,
I have a query on statutory bonus payment. As per the payment of statutory bonus act, employer has to pay bonus to separated employees also.
But what employer is supposed to do when ex-employees are not traceable or not available to collect the bonus amount
Pls help me.
Regards
Amit
From India, New Delhi
4I have a query on statutory bonus payment. As per the payment of statutory bonus act, employer has to pay bonus to separated employees also.
But what employer is supposed to do when ex-employees are not traceable or not available to collect the bonus amount
Pls help me.
Regards
Amit
From India, New Delhi
It is always desirable to maintain an "Unclaimed Bonus Account" for disbursing bonus to those who had left the organisation. Official letters intimating the employees to collect he bonus shall be sent.I think, declared bonus should be claimed within 18 months of closure of company's accounts. But is may not be possible to rule on dates or even law of limitation.
Regards,
Madhu.T.K
From India, Kannur
Regards,
Madhu.T.K
From India, Kannur
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Amendment to Payment of Bonus Act 2015.jpg
Statutory Compliance of a Industrial or Commercial Unit.xls
Bonus act amendment gazette copy.pdf