would you mind if i can get some informations/clarifications about bonus?
if you would not mind can you pl advise me
1. you see we have appointted 3 marketing executive along with one programmer.
2. one of the marketing executive was appointed in oct 2006 with total gross salary at Rs.35,000 PM
3. The second marketing executive was appointed in april 2007 with gross salary at Rs 40,000 PM.
4. the third mktg executive have joined the company in august 2007 with gross salalry at Rs 40,000 PM
5. The programmer was appointed in the month of may 2007 with gross salary at Rs.30,000 PM
The problem is all the four employees has ask for diwali bonus
also in our organisation the bonus for other staff is calculated as per the financial year from april to march
i would like to ask you........
1. Are all the four candidates eligible for bonus?
2. Since their salary is about 10,000 are they right to claim bonus coz they say they used to get bonus in their ealier company where they worked.
3. if the management wants to give them bonus how would the bonus be calculated (meaning what which month should counted for giving the bonus coz in our company it is from april to march
4. can you pl tell me from which month should we calculate the bonus for each of the above employee?
pl advise
best regards
From India, Mumbai
if you would not mind can you pl advise me
1. you see we have appointted 3 marketing executive along with one programmer.
2. one of the marketing executive was appointed in oct 2006 with total gross salary at Rs.35,000 PM
3. The second marketing executive was appointed in april 2007 with gross salary at Rs 40,000 PM.
4. the third mktg executive have joined the company in august 2007 with gross salalry at Rs 40,000 PM
5. The programmer was appointed in the month of may 2007 with gross salary at Rs.30,000 PM
The problem is all the four employees has ask for diwali bonus
also in our organisation the bonus for other staff is calculated as per the financial year from april to march
i would like to ask you........
1. Are all the four candidates eligible for bonus?
2. Since their salary is about 10,000 are they right to claim bonus coz they say they used to get bonus in their ealier company where they worked.
3. if the management wants to give them bonus how would the bonus be calculated (meaning what which month should counted for giving the bonus coz in our company it is from april to march
4. can you pl tell me from which month should we calculate the bonus for each of the above employee?
pl advise
best regards
From India, Mumbai
Dear Mr. Alex
I have given below answers for your questions. Hope that those will help you.
1. Are all the four candidates eligible for bonus?
As per the act, a person who is drawing up to Rs.3500/- as wage (Basic + DA) PM, is eligible to get bonus. Using this point you can get to know who is eligible, for bonus, among your above mentioned staff. But almost in all companies employees are being paid bonus irrespective of their wage. If that be the case also, only the first person, who joined in Oct 06, is eligible to get bonus for the FN 2006 – 07.
2. Since their salary is about 10,000 are they right to claim bonus coz they say they used to get bonus in their earlier company where they worked.
Legally they don’t have the right to ask for bonus. It’s up to the company. But almost in all companies employees are being paid bonus irrespective of their wage.
3. if the management wants to give them bonus how would the bonus be calculated (meaning what which month should counted for giving the bonus coz in our company it is from April to March)
Everywhere it is from April to March only. You mentioned that you calculated for other staff. Like that you can calculate for the eligible person also.
4. Can you pl tell me from which month should we calculate the bonus for each of the above employee?
Since the first person only is eligible, for him only you can calculate (from Oct 06 to March 07).
Regards
M. Helen
1I have given below answers for your questions. Hope that those will help you.
1. Are all the four candidates eligible for bonus?
As per the act, a person who is drawing up to Rs.3500/- as wage (Basic + DA) PM, is eligible to get bonus. Using this point you can get to know who is eligible, for bonus, among your above mentioned staff. But almost in all companies employees are being paid bonus irrespective of their wage. If that be the case also, only the first person, who joined in Oct 06, is eligible to get bonus for the FN 2006 – 07.
2. Since their salary is about 10,000 are they right to claim bonus coz they say they used to get bonus in their earlier company where they worked.
Legally they don’t have the right to ask for bonus. It’s up to the company. But almost in all companies employees are being paid bonus irrespective of their wage.
3. if the management wants to give them bonus how would the bonus be calculated (meaning what which month should counted for giving the bonus coz in our company it is from April to March)
Everywhere it is from April to March only. You mentioned that you calculated for other staff. Like that you can calculate for the eligible person also.
4. Can you pl tell me from which month should we calculate the bonus for each of the above employee?
Since the first person only is eligible, for him only you can calculate (from Oct 06 to March 07).
Regards
M. Helen
Hi Alex !
During the finalization of employment, we arrive at the CTC to be offered to the candidate and after arriving at the CTC, we let the candidate know about the break-up of the salary (components, allowances, statutory benefits, etc.) and confirm his understanding the same. This helps in avoiding problem you are facing now.
Hope you will consider the above in future cases.
As of now only the person who has joined in oct 2006 is eligible for bonus in year 2007. However, this is subject to his basic salary falling below the exemption limit for bonus.
It will be more helpful for anyone to give you some help if you can let us know their basic salaries as well.
- Hiten
From India, New Delhi
During the finalization of employment, we arrive at the CTC to be offered to the candidate and after arriving at the CTC, we let the candidate know about the break-up of the salary (components, allowances, statutory benefits, etc.) and confirm his understanding the same. This helps in avoiding problem you are facing now.
Hope you will consider the above in future cases.
As of now only the person who has joined in oct 2006 is eligible for bonus in year 2007. However, this is subject to his basic salary falling below the exemption limit for bonus.
It will be more helpful for anyone to give you some help if you can let us know their basic salaries as well.
- Hiten
From India, New Delhi
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