Those joined on 15/3/24 and still in job as of July, 2024, will bonus act applicable for FY 23-24? Do I need to pay bonus for last year?
From India, Meerut
From India, Meerut
In order to be entitled to get bonus a person should have worked at least for 30 days in the financial year. In this case the financial year is 2023-24, and the employee has worked only for 15 days. hence no bonus is payable to him now. Next year he should be paid bonus even if he has left the company in the meanwhile based on his working in the financial year 2024-25.
From India, Kannur
4246From India, Kannur
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Amendment to Payment of Bonus Act 2015.jpg
Bonus act amendment gazette copy.pdf