Hi friends,
In one of my friend\'s company salary breakup includes bonus as salary part, but as per my knowledge bonus can\'t paid on monthly basis and also as per act it has to be paid within 8 month that to one time payment.
Now question is does any organization has a right to make a bonus as salary part and that to be paid on monthly basis. Secondly does any notification issued by govt. of such, if it is there then please share to my mail id nitesh_rise@yahoo.com
Would appreciate your response.
From India, Lucknow
In one of my friend\'s company salary breakup includes bonus as salary part, but as per my knowledge bonus can\'t paid on monthly basis and also as per act it has to be paid within 8 month that to one time payment.
Now question is does any organization has a right to make a bonus as salary part and that to be paid on monthly basis. Secondly does any notification issued by govt. of such, if it is there then please share to my mail id nitesh_rise@yahoo.com
Would appreciate your response.
From India, Lucknow
Dear all
i agree with mr Negi but i have little different opinion regarding payment of monthly bonus.As mr negi has rightly mentioned no where it is written in the act
that it can not be paid of monthly basis.
It can be paid on montly basis on form C as there is provision of advance bonus in Form C of bonus register.as mr negi has said that it will be decided
after finalising the balance sheet than balance bonus can be paid after 8 month.
From India, Delhi
167i agree with mr Negi but i have little different opinion regarding payment of monthly bonus.As mr negi has rightly mentioned no where it is written in the act
that it can not be paid of monthly basis.
It can be paid on montly basis on form C as there is provision of advance bonus in Form C of bonus register.as mr negi has said that it will be decided
after finalising the balance sheet than balance bonus can be paid after 8 month.
From India, Delhi
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Amendment to Payment of Bonus Act 2015.jpg
Bigger bonuses for more as Lok Sabha amends Payment of Bonus Act - The Economic Times.pdf