No Tags Found!


Yuva-1989
Dear Seniors..! I am very New to HR. I have a doubt in Payment of Bonus eligibility.
As per the Payment of Bonus Act 1965, if employee Worked an Organization for thirty days in an Accounting year, He/She will be eligible for Payment of Bonus.
So in this Connection, if employee joined on April and resigned in the month of June, he/she will be eligible. Then we have to pay Payment of Bonus to the Particular Employee. am i right..?
if i am wrong. please correct me by providing your valuable comments.
thanks in advance for your great help.

From India, Chennai
atul_kumarsingh08
18

Dear, As per the Payment of Bonus Act 1965, after 30 days from his date of joining employee will be eligible for the bonus . Regards Atul
From India, Delhi
umakanthan53
6016

Bonus becomes payable only after its determination at the close of the relevant accounting year. Therefore, if an employee leaves the establishment in the middle of the accounting year, it is not necessary that proportionate bonus has to be paid along with FF Settlement.
From India, Salem
p.sawant
Hi,
You are right. The guidelines of the Payment of Bonus Act are as Follows:
1)Eligibility: The employee should have worked for 30 days in a year.
2)Applicability: From the 6th accounting year of the company from the date of commencement OR
From the 1st Profit Making Year of the Company.
3)PAYABLE: when BASIC + DA < or = Rs.10000
If all the above are met then you have to bonus even if the employee has worked only 32 days
Regards,
Priya

From India, Mumbai
Yuva-1989
Dear Sir(Umakanth),
Thanks for your support.
With due respect, if you can provide any documentary stuff or notification or act section, it will be great help to us. if possible please convey your best support to us.
Thanks,
Yuva

From India, Chennai
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.





Contact Us Privacy Policy Disclaimer Terms Of Service

All rights reserved @ 2024 CiteHR ®

All Copyright And Trademarks in Posts Held By Respective Owners.