What is the bonus rule? If an employee has 30 working days in 2019-20 and 5 days in 2020-21, will he be given a bonus for both 2019-20 and 2020-21 or only for 2019-20? Please help me.
From India, Delhi
From India, Delhi
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As per the Payment of Bonus Act, "every employee shall be entitled to be paid by his employer in an accounting year, bonus, in accordance with the provisions of this Act, provided he has worked in the establishment for not less than thirty working days in that year."
So, the employee will be eligible for the 2019-2020 session and not for the 2020-2021 financial year.
From India, Haldwani
3So, the employee will be eligible for the 2019-2020 session and not for the 2020-2021 financial year.
From India, Haldwani
As per The Bonus Act section 8, bonus is eligible for those who have worked not less than 30 working days in an accounting year.
In section 10, it states that a minimum bonus must be paid to every employee on any day in respect of every accounting year.
- M. Palani
In section 10, it states that a minimum bonus must be paid to every employee on any day in respect of every accounting year.
- M. Palani
Dear colleague,
As rightly stated, the eligibility of 30 days of work is during the accounting year. In your case, if both periods of work fall in the same accounting year, then the same will be reckoned for the bonus.
Regards,
Vinayak Nagarkar
HR and Employee Relations Consultant
From India, Mumbai
As rightly stated, the eligibility of 30 days of work is during the accounting year. In your case, if both periods of work fall in the same accounting year, then the same will be reckoned for the bonus.
Regards,
Vinayak Nagarkar
HR and Employee Relations Consultant
From India, Mumbai
In accordance with the provisions of the Principal Act, every worker who earns a salary of INR 10,000 or less per month and has worked for not less than 30 days in an accounting year is eligible for a bonus. The bonus is set at a minimum of 8.33% of the salary payable to the worker, with a maximum bonus statutorily capped at 20% of the salary.
Please let me know if you need any further assistance or clarification on this matter.
From India, Pune
Please let me know if you need any further assistance or clarification on this matter.
From India, Pune
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