Dear All,
My company want to pay a bonus to their workers on a monthly basis. However, as per the Bonus Act, less than 30 days of attendance in FY is not eligibility for the same.
Please help.
reg
Jagat
From India, Mumbai
My company want to pay a bonus to their workers on a monthly basis. However, as per the Bonus Act, less than 30 days of attendance in FY is not eligibility for the same.
Please help.
reg
Jagat
From India, Mumbai
The question invloves two issues. First is that whether you can pay bonus in monthly payments? the answer is No. Bonus is actually a deferred payment of the last financial year. That is, the bonus paid in this year (2024-25) pertains to last financial year, 2023-24. The same should be pai within 8 months of closing the financial year. That means you can not stretch it beyond November 2024. You can pay the bonus of preceding year in installments but the last of the said installments should not be after 8 months of closing the books of accounts.
Second question/ rather apprehension is about the eligibility. 30 days attendance/ working in a finacial year is the eligibility for getting bonus. Any employee whether currently working or not shall be paid bonus only if he had worked at least for 30 days in the preceding financial year. You need to pay bonus only to those who qualifies to get it.
From India, Kannur
4262Second question/ rather apprehension is about the eligibility. 30 days attendance/ working in a finacial year is the eligibility for getting bonus. Any employee whether currently working or not shall be paid bonus only if he had worked at least for 30 days in the preceding financial year. You need to pay bonus only to those who qualifies to get it.
From India, Kannur
Dear Friend, Your company can pay the bonus to their workers on a monthly basis, but can’t be considered the payment as bonus as per the Bonus Act. Therefore, do not pay during the FY.
From India, Mumbai
From India, Mumbai
Friends,
When I was browsing looking for settled case laws relevant to this query I came across a land mark judgment reg.payment of Bonus, passed by the SC (MUMBAI KAMGAR SABHA, BOMBAY Vs.RESPONDENT:M/S ABDULBHAI FAIZULLABHAI & ORS.- DATE OF JUDGMENT10/03/1976) considered to be the first of PIL in India passed by the legendary Hon'ble Justice Shri.V.Krishna Iyer & Justice Untwala.NL.This I wish to share with learned friends for refreshing the contents though this I think will not answer the query in its entirety.
From India, Bangalore
When I was browsing looking for settled case laws relevant to this query I came across a land mark judgment reg.payment of Bonus, passed by the SC (MUMBAI KAMGAR SABHA, BOMBAY Vs.RESPONDENT:M/S ABDULBHAI FAIZULLABHAI & ORS.- DATE OF JUDGMENT10/03/1976) considered to be the first of PIL in India passed by the legendary Hon'ble Justice Shri.V.Krishna Iyer & Justice Untwala.NL.This I wish to share with learned friends for refreshing the contents though this I think will not answer the query in its entirety.
From India, Bangalore
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