Dear Everybody,
As per our Management rules employee will get couple of basics as festival bonus at the time of festivals.. The practice is - for Muslim - 1 at Eid-ul-fitor and 1 at Eid-ul-azha, for Hindu –at Durgapuja and for Christian – two basics at 25th Dec.
My question is that - If some 1 joins just before 3 days of any festival or if any one is in the probation period during any festival or if anybody has completed his probation period but not completed his one year of service in the factory, how his eligible bonus will be calculated is no where specified.
Hence, if any of you could provide me with concrete guideline regarding calculation of payable bonus to various types of employees like : Management staff, Clerical/ Artisan staff, Laborers which can mitigate all these issues related to calculation.
I am eagerly waiting your reply.
With kind regards
From Bangladesh, Chittagong
As per our Management rules employee will get couple of basics as festival bonus at the time of festivals.. The practice is - for Muslim - 1 at Eid-ul-fitor and 1 at Eid-ul-azha, for Hindu –at Durgapuja and for Christian – two basics at 25th Dec.
My question is that - If some 1 joins just before 3 days of any festival or if any one is in the probation period during any festival or if anybody has completed his probation period but not completed his one year of service in the factory, how his eligible bonus will be calculated is no where specified.
Hence, if any of you could provide me with concrete guideline regarding calculation of payable bonus to various types of employees like : Management staff, Clerical/ Artisan staff, Laborers which can mitigate all these issues related to calculation.
I am eagerly waiting your reply.
With kind regards
From Bangladesh, Chittagong
If any Management comes out with a rule, a policy is being drafted with regards to the eligibility and other criteria's please go alongwith that policy to make it simpler.
If a policy is not drafted, please do the same at the earliest and circulate it to your staff.
Last but not the least speak to the management, about your query and if the management is happy in providing the Festival Bonus even to the newcomer, then please follow that what is the harm
From India, Ahmadabad
734If a policy is not drafted, please do the same at the earliest and circulate it to your staff.
Last but not the least speak to the management, about your query and if the management is happy in providing the Festival Bonus even to the newcomer, then please follow that what is the harm
From India, Ahmadabad
Dear Member,
As per law annual bonus is governed by Payment of Bonus Act, 1965. According to this Act an Employee whose earnings do not exceed Rs.10,000/- is eligible for payment of bonus. Payment of bonus is governed by the formula prescribed in the Act. The other criterion is a person should have worked for 30 days in an accounting year.
Your query is not clear, whether the payment during festival is in lieu of Payment of bonus act or not. Secondly if apart from this you also pay annual bonus you can have your own rule.
With regards,
S. Srinivasan.
From India, Chennai
As per law annual bonus is governed by Payment of Bonus Act, 1965. According to this Act an Employee whose earnings do not exceed Rs.10,000/- is eligible for payment of bonus. Payment of bonus is governed by the formula prescribed in the Act. The other criterion is a person should have worked for 30 days in an accounting year.
Your query is not clear, whether the payment during festival is in lieu of Payment of bonus act or not. Secondly if apart from this you also pay annual bonus you can have your own rule.
With regards,
S. Srinivasan.
From India, Chennai
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