Dear All,
Can you clear my doubt about how do companies decides in a year about percentage of bonus to be paid to their employees in a year. Is this optional for companies that will they pay any amount of percentage between 8% to 20% as per their profit or revenue in a year or there is any rule for calculation of bonus in a year.
Regards,
Sudhir
From India, Delhi
1Can you clear my doubt about how do companies decides in a year about percentage of bonus to be paid to their employees in a year. Is this optional for companies that will they pay any amount of percentage between 8% to 20% as per their profit or revenue in a year or there is any rule for calculation of bonus in a year.
Regards,
Sudhir
From India, Delhi
Dear Sudhir,
I think that you will certainly agree with me without any reservation that a HR-Professional ( whether he has an academic back-ground in Law or not ) should first make a reading of the Law that regulates a particular service condition and then raise questions on grey areas which create complications in understanding.My request to you, therefore, is to first make a thorough reading of the Payment of Bonus Act,1965 and understand the definitions... Accounting Year, Appropriate Government,Available Surplus, Allocable Surplus, Banking Company, Non-Banking Company, Employee, Employer, Gross Profits and Salary or Wage and the concepts of minimum bonus and maximum bonus. Even after that, if you have the same doubts, please notify.
From India, Salem
I think that you will certainly agree with me without any reservation that a HR-Professional ( whether he has an academic back-ground in Law or not ) should first make a reading of the Law that regulates a particular service condition and then raise questions on grey areas which create complications in understanding.My request to you, therefore, is to first make a thorough reading of the Payment of Bonus Act,1965 and understand the definitions... Accounting Year, Appropriate Government,Available Surplus, Allocable Surplus, Banking Company, Non-Banking Company, Employee, Employer, Gross Profits and Salary or Wage and the concepts of minimum bonus and maximum bonus. Even after that, if you have the same doubts, please notify.
From India, Salem
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