Hi, Can we give a bonus Year (2024-2025), including Years (2023-2024) after the employee's resignation?
Also, is Ex- Gratia necessary? or we can give only a Bonus to all employees (above 21000/-)
Please advise
From India, Faridabad
Also, is Ex- Gratia necessary? or we can give only a Bonus to all employees (above 21000/-)
Please advise
From India, Faridabad
The period for which the employee was in employment is eligible for Bonus. For partial period it has to e calculated pro-rata basis.
If the company has practice to pay bonus/ ex-gratia to employees out of purview of Bonus Act, the organization as per policy may do so but it will be wise to pay it as ex-gratia instead of bonus.
S K Bandyopadhyay ( howrah, wb)
CEO-USD HR Solutions
+91 98310 81531
skb@usdhrs,in
From India, New Delhi
337If the company has practice to pay bonus/ ex-gratia to employees out of purview of Bonus Act, the organization as per policy may do so but it will be wise to pay it as ex-gratia instead of bonus.
S K Bandyopadhyay ( howrah, wb)
CEO-USD HR Solutions
+91 98310 81531
skb@usdhrs,in
From India, New Delhi
The bonus for the year 2024-25 shall be paid in 2025-26 only. This year you can pay bonus of the FY 2023-24. The resigned employee who has worked at least for 30 days in the financial year (2023-24) is also entitled to get pro rata bonus for the days he worked.
It is not necessary to pay any ex gratia amount unless the same is part of the service condition, ie, part of CTC on which he was appointed. You can restrict payment of bonus to those who are within the bonus bracket of Rs 21000 or less than that (not above Rs 21000), but if you have shown an element of bonus in the remuneration structure (CTC) of all employees including those who are not entitled to get statutory bonus, then you should pay it.
From India, Kannur
It is not necessary to pay any ex gratia amount unless the same is part of the service condition, ie, part of CTC on which he was appointed. You can restrict payment of bonus to those who are within the bonus bracket of Rs 21000 or less than that (not above Rs 21000), but if you have shown an element of bonus in the remuneration structure (CTC) of all employees including those who are not entitled to get statutory bonus, then you should pay it.
From India, Kannur
But the Bonus / Ex gratia payment for the year 2023-24 which was not yet disbursed, was deducted from F&F in the year 2024-25 before disbursement. Moreover a forceful written consent was taken from employee. To avoid disturbances in smooth relieving formalities it is consented by the employee in a coercion. Whether he has a right / eligibility to received that 2023-24 years bonus / ex gratia at the normal disbursement time i..e. before Diwali vacation ? Please guide.
From India, Pune
From India, Pune
How can you deduct the bonus amount from F&F? Again forcing an employee to sign such papers is totally illegal. The employee can approach the appropriate authorities.
From India, Kannur
From India, Kannur
You can give out bonuses for 2024-2025 even after an employee leaves, but this depends on company policy and the terms of the employment contract. Ex-gratuity payments are discretionary and not legally required. You can choose to only give bonuses to employees who earn over ¥21,000, but this also depends on company policy. planet clicker
From Argentina, Buenos Aires
From Argentina, Buenos Aires
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