Dear HR team, I hope this email finds you well. I would like to inquire about the eligibility criteria for the upcoming bonuses, as well as the availability of the company bonus slip for the period from October 2022 to September 2023.
The individual in question worked for the company during this entire period but unfortunately resigned in September. I would like to know if they are still eligible to receive their bonus for this time frame. As a dedicated employee, it is important to have transparency and clarity regarding such matters. Understanding the eligibility criteria and obtaining the bonus slip will not only provide reassurance but also help in financial planning.
From India, Chennai
The individual in question worked for the company during this entire period but unfortunately resigned in September. I would like to know if they are still eligible to receive their bonus for this time frame. As a dedicated employee, it is important to have transparency and clarity regarding such matters. Understanding the eligibility criteria and obtaining the bonus slip will not only provide reassurance but also help in financial planning.
From India, Chennai
Eligibility to bonus is decided by the attendance of the employee and any employee who has worked at least for 30 days in the financial year will get bonus subject to his actual days worked and salary received. At the same time, this applies to employees whose salary does not exceed Rs 21000 per month. The rate of bonus shall vary from 8.33% to 20% and the same is decided by the profit of the company.
There is no bonus slap for October-September unless you have this period as financial year. Normally it will be April- March. Assuming that you have the same financial year, if the employee is question has worked for more than 30 days in the previous financial year (2022-23), he should be paid bonus for the period from his date of joining in October 2022 till March 2023 in this current year. For the period from April 2023 till his date of exit in Sept 2023, if he had worked for 30 days, again he will be entitled to bonus. But that bonus will be payable only in 2023-24.
Bonus being a right conferred under the law, it is payable to all employees, whether 'dedicated' or not, who comes under the bonus brackets (ie, salary of not more than 21000 and work of 30 days in the financial year) and it can be refused only to such 'non dedicated' employees who has been dismissed from service for-
(a) fraud; or
(b) riotous or violent behavior while on the premises of the establishment; or
(c) theft, misappropriation or sabotage of any property of the establishment.
From India, Kannur
4249There is no bonus slap for October-September unless you have this period as financial year. Normally it will be April- March. Assuming that you have the same financial year, if the employee is question has worked for more than 30 days in the previous financial year (2022-23), he should be paid bonus for the period from his date of joining in October 2022 till March 2023 in this current year. For the period from April 2023 till his date of exit in Sept 2023, if he had worked for 30 days, again he will be entitled to bonus. But that bonus will be payable only in 2023-24.
Bonus being a right conferred under the law, it is payable to all employees, whether 'dedicated' or not, who comes under the bonus brackets (ie, salary of not more than 21000 and work of 30 days in the financial year) and it can be refused only to such 'non dedicated' employees who has been dismissed from service for-
(a) fraud; or
(b) riotous or violent behavior while on the premises of the establishment; or
(c) theft, misappropriation or sabotage of any property of the establishment.
From India, Kannur
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.
Bonus eligibility.xls
Amendment to Payment of Bonus Act 2015.jpg
Company Profile.ppt