Greeting to All,
We are running a partnership firm and have several contracts across India in the verious sectors. recently, one of our contracts got over on March 22, and final IR Clearance work is going on and they (principal employer) have raised a query to pay the last six-month bonus i.e (Oct'21 to March'22). usually, we pay a bonus from (Oct-Sept) per year instead of considering the financial year. We requested the principal employer to give permission to pay it by Nov'22 for that we will issue a request letter to you. but they denied our request and instructed us to pay the same at the earliest.
So, Our query is that can we hold the Bonus of the employee for eight months and pay it by Nov'22 as per the bonus act, or we must pay it to get IR Clearance. Some employees have left the job and some are transferred to other work.
Kindly guide us.
Pratap N
From India, undefined
We are running a partnership firm and have several contracts across India in the verious sectors. recently, one of our contracts got over on March 22, and final IR Clearance work is going on and they (principal employer) have raised a query to pay the last six-month bonus i.e (Oct'21 to March'22). usually, we pay a bonus from (Oct-Sept) per year instead of considering the financial year. We requested the principal employer to give permission to pay it by Nov'22 for that we will issue a request letter to you. but they denied our request and instructed us to pay the same at the earliest.
So, Our query is that can we hold the Bonus of the employee for eight months and pay it by Nov'22 as per the bonus act, or we must pay it to get IR Clearance. Some employees have left the job and some are transferred to other work.
Kindly guide us.
Pratap N
From India, undefined
The payment of bonus act provides that you can adjust bonus paid during the year in any form from the final bonus payable, whether it is advance of bonus or customary bonus. So yes, you can pay part bonus now and the balance in November as customary bonus.
Those who left the job, you have to pay them for the time they worked for you, either by transferring to their account or by sending them an account payee cheque to their residence by registered post. If they do not cash the check, you need to keep the money aside and after 3 years, pay it to the labour welfare fund.
As for those who were transferred to other jobs, I do not see the problem of giving them bonus now for part of the year.
From India, Mumbai
2392Those who left the job, you have to pay them for the time they worked for you, either by transferring to their account or by sending them an account payee cheque to their residence by registered post. If they do not cash the check, you need to keep the money aside and after 3 years, pay it to the labour welfare fund.
As for those who were transferred to other jobs, I do not see the problem of giving them bonus now for part of the year.
From India, Mumbai
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