The minimum bonus which an employer is required to pay even if he suffers losses during the accounting year or there is no allocable surplus, is 8.33 % of the salary during the accounting year. The balance payable is Set Off.
Now you have told that you were paid the minimum and the remaining not paid yet. As per the Bonus Act, where for any accounting year, there is no available surplus or the allocable surplus in respect of that year falls short of the amount of minimum bonus payable to the employees, and there is no amount or sufficient amount carried forward and set on which could be utilised for the purpose of payment of the minimum bonus, then such minimum amount or the deficiency, as the case may be, shall be carried forward for being set off in the succeeding accounting year and so on up to and inclusive of the fourth accounting year.
Hope this is the reply you have been looking for.
Regards,
Chandru
From India, Madras
39Now you have told that you were paid the minimum and the remaining not paid yet. As per the Bonus Act, where for any accounting year, there is no available surplus or the allocable surplus in respect of that year falls short of the amount of minimum bonus payable to the employees, and there is no amount or sufficient amount carried forward and set on which could be utilised for the purpose of payment of the minimum bonus, then such minimum amount or the deficiency, as the case may be, shall be carried forward for being set off in the succeeding accounting year and so on up to and inclusive of the fourth accounting year.
Hope this is the reply you have been looking for.
Regards,
Chandru
From India, Madras
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