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Non payment of statutory bonus under bonus act - what can the company do now?
Please clarify the following query regarding applicability of payment of bonus. if the company has been incorporated in 2010 and has been under loss till 2017 the still does it need to pay bonus under payment of bonus act to all employees drawing a basic salary below 10 k and 21k. if the company is liable to pay bonus but has not paid such amounts then what recourse does it have with the applicable penalty if any. what can the company do right now to ensure past compliance is adherence. please clarify as it is an urgent matter.
Payment of bonus
Dear all whether food allowance is considered as a part of salary or wage for payment of bonus to the employees under payment of bonus act1965. ? regards abhishek
Bonus payment halfyearly at the rate of 8.33%
Hi hr professionals pls advise me about bonus payment half yearly. is it possible that the company will pay bonus after the completion of six month two times in a year at the rate of minimum bonus 8.33. i know bonus calculation and payment annually but i want to know is an option to pay half yearly. pls provide me the best way to pay bonus.
Payment of bonus
Hi all i m working in a construction company. in ctc the bonus component is included with 8.33 on the basic and wich will be paid annually after completion of 1 year. since the financial year is closing on 31st march i have prepared the bonus statement as per the data from payroll data from apr 08 to march 09 and employees joined in the middle bonus prepared on pro rata basis. now the management says they cant pay the bonus to the employees which is part of the ctc and refering the bonus act and asking us legal experts consultation on the bonus payment. my queries are: is this comes under bonus act? im sure we need to pay the bonus. if not on what ground we cannot pay the bonus on the above case? please write your comments on this... regards hari krishna
Payment of bonus in view of recent announcement. (urgent)
Dear all we are in process for the payment of bonus for the fy 2005 06 i would like to know that does recent announcement in bonus act applicable to us in case when we are making payment for bonus for fy 2005 06 ? requesting you all to share your view and help in concluding the bonus payment. looking forward for your support gaurang
Payment of bonus - no bonus act ceilings for eligibility criteria as well calculation of bonus
One existing industry so far has followed their own procedure for payment of bonus. it is not as per payment of of bonus act. no bonus act ceilings for eligibility criteria as well calculation of bonus followed as provided in the act. all employees worked for minimum of 30 days in a year will receive bonus irrespective of their salary without any ceiling. every year based on the profit of the company management will declare bonus and exgratia which will range from 10 to 30 on the total annual wages of basic da and special pay. thus all employees used to receive bonus and exgratia amount of rs 40000/ to rs. 100000/ every year. my question is whether the management can switch over to follow procedure as per the payment of bonus act from the current financial year. whether unions take up the matter for legal fight as well as agitations.