MNS2000
Our company pays grade-wise incentives to all its employees. Some of the employees receive bonus as per bonus act & receive their incentives after deducting bonus amount already paid to them. Is this a correct practice followed as per labour laws / bonus act. Since payment of bonus is mandatory.
From India, Thane
umakanthan53
6018

The query, in my opinion, needs certain additional inputs such as the existence of any agreement or settlement linking bonus with production or productivity, the quantum or the percentage of the incentive amount deducted towards bonus with reference to the total earnings of the employees in the accounting year.
Sec.31A of the Payment of Bonus Act,1965 permits the arrangement for the payment of bonus linked with production or productivity subject to the conditions- (1)that no relinquishment of the employees' right to minimum bonus u/s10 of the Act and (2)that such emp;oyees covered by the settlement shall not be entitled to be paid bonus in excess of 20%.

From India, Salem
PL Kanthan
20

Dear Seniors,
Here is an input.
As has been the understanding as per Payment of Bonus Act 1965, Clause 32.vi, contract workers engaged in "Building Operations" are not eligible for Bonus.
For your kind information, this Clause has been withdrawn by Ordinance of Amendment dt Oct.2007. Attached is that amendment.
Kindly stay updated.
Regards

From India, Thane
Attached Files (Download Requires Membership)
File Type: pdf paymentofbonusact2007_123.pdf (313.7 KB, 77 views)

Community Support and Knowledge-base on business, career and organisational prospects and issues - Register and Log In to CiteHR and post your query, download formats and be part of a fostered community of professionals.





Contact Us Privacy Policy Disclaimer Terms Of Service

All rights reserved @ 2024 CiteHR ®

All Copyright And Trademarks in Posts Held By Respective Owners.