If an Employee of a Pvt Ltd company resigned on 30th Mar\'12 is he eligible for Diwali bonus? before that he has served a period of 4 yrs in that company.
From India, Pondicherry
From India, Pondicherry
yes u are eligible...................................................................................................................
From India, Indore
104From India, Indore
yes, you are entitle for Bonus. As per Bonus Act 1965 any employee work, 30 working days in a previous year, s /he is entitle for bonus. Bonus always distribute for last year.
From India, Mumbai
From India, Mumbai
Dear Elumalai,
1. How much basic salary he/she getting, if he/she getting 10000 basic than not eligible for bonus.
2. Let us know your Bonus accounting period.
3. At the time of Full & Final settlement had you taken in to account Bonus calculation or not.
For example:- If bonus calculation period from Oct-11 to Nov-12 or Sept-11 to Oct-12, & at the time of FUFA settlement if you had not taken into account than you should pay the Bonus.
4. If any employee work for 30 days in a accounting year than he/she will be entitled for bonus.
and bonus will be calculated on less then or Rs-3500/- PM (sec 12) @ rate of minimum 8.33% (sec.10)and maximum 20%(sec.11).the % depends on the allocable surplus of the company but one employer will have to pay 8.33% as a mandatory even if he is not earning profit. There is also a provision that for a new company the act have given a relaxation of 5 years but if during the year the company is earning profit then the company will have to pay bonus for the particular year (sec.16).
From India, Madras
1. How much basic salary he/she getting, if he/she getting 10000 basic than not eligible for bonus.
2. Let us know your Bonus accounting period.
3. At the time of Full & Final settlement had you taken in to account Bonus calculation or not.
For example:- If bonus calculation period from Oct-11 to Nov-12 or Sept-11 to Oct-12, & at the time of FUFA settlement if you had not taken into account than you should pay the Bonus.
4. If any employee work for 30 days in a accounting year than he/she will be entitled for bonus.
and bonus will be calculated on less then or Rs-3500/- PM (sec 12) @ rate of minimum 8.33% (sec.10)and maximum 20%(sec.11).the % depends on the allocable surplus of the company but one employer will have to pay 8.33% as a mandatory even if he is not earning profit. There is also a provision that for a new company the act have given a relaxation of 5 years but if during the year the company is earning profit then the company will have to pay bonus for the particular year (sec.16).
From India, Madras
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Amendment to Payment of Bonus Act 2015.jpg
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Bonus-amendment _206.doc