Dear Senior,
Please suggest, our company was paying a bonus to all its employees whether their salary is less than 21000 or more. It was good for everyone. But now, they are saying that the bonus is applicable only to those whose basic salary is up to 21000. Approximately 40-50 employees are on this list. Is it possible that they can discontinue the bonus for their employees?
From India, Bhogpur
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8Please suggest, our company was paying a bonus to all its employees whether their salary is less than 21000 or more. It was good for everyone. But now, they are saying that the bonus is applicable only to those whose basic salary is up to 21000. Approximately 40-50 employees are on this list. Is it possible that they can discontinue the bonus for their employees?
From India, Bhogpur
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Please go through the discussion on the matter in this link:
https://www.citehr.com/548650-amendm...a.html#2277950
From India, Bangalore
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https://www.citehr.com/548650-amendm...a.html#2277950
From India, Bangalore
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Sir, I have read the notification. My question is that my salary is $21,500, and I got a bonus up to March 2019. However, now the company is denying to pay a bonus for 2019-20 because my salary exceeds the limit. But last year, I received the same salary. How is it possible that the bonus has been discontinued? I have been receiving the same salary for the past two years, so please advise.
Thank you.
From India, Bhogpur
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Thank you.
From India, Bhogpur
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Statutory bonus is payable for the financial year (1.4... to 31.3...) following finalization of Accounts of the employer subject to certain legal provisions. Therefore, they would have been paid last year, which was due for the financial year 2017-18 payable in 2018-19. Presumably, in the financial year 2018-19, your salary would have crossed the cut-off of Rs.21000/-, and therefore, you are not eligible for the year 18-19. Possibly, if the increase took place in-between the financial year, there are chances for a proportionate bonus. However, check the fact with your HR/Finance team and get it clarified to your satisfaction.
From India, Bangalore
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From India, Bangalore
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