Good morning all, Can any one clarify on this issue.
The issue is I have worked in my previous organisation from 01.04.2016 to 31.03.2017 and resigned on 30.04.17 after that in my full and final settlement I didn't get my bonus. Now the management has declared bonus for that financial year and released the same to on roll employees. For me they are not released bonus and saying that you are not eligible to get bonus as you were resigned employee. So please suggest me whether I am eligible or not?
From India, Mumbai
The issue is I have worked in my previous organisation from 01.04.2016 to 31.03.2017 and resigned on 30.04.17 after that in my full and final settlement I didn't get my bonus. Now the management has declared bonus for that financial year and released the same to on roll employees. For me they are not released bonus and saying that you are not eligible to get bonus as you were resigned employee. So please suggest me whether I am eligible or not?
From India, Mumbai
Same thing happened with me. now my query is even after knowing that as per bonus act if you worked more than 30days in bonus year you are entitled for bonus. but what if my salary is more than 21000/- and i am resigned employee then can employer deny bonus.
From India, Pune
From India, Pune
Hi there
In general, though an employee resigns, statutory bonus is not part of final settlement. It will be paid as and when the company declares for the rest of the company.
However, the criteria will be is an employee has put in atleast 30 days service in the financial year or will be pro-rata for the days the employee worked in the previous financial year to be eligible for current year.
Since your are resigned employee, it will be paid against your request for bonus in writing and by way of check/dd/ to your account, once written request is received.
From India, Visakhapatnam
In general, though an employee resigns, statutory bonus is not part of final settlement. It will be paid as and when the company declares for the rest of the company.
However, the criteria will be is an employee has put in atleast 30 days service in the financial year or will be pro-rata for the days the employee worked in the previous financial year to be eligible for current year.
Since your are resigned employee, it will be paid against your request for bonus in writing and by way of check/dd/ to your account, once written request is received.
From India, Visakhapatnam
Dear Aniket I was responding to query of Kantha rao of HR in my initial post.
From India, Visakhapatnam
From India, Visakhapatnam
Dear Aniket, you have confirmed that you do not come under the purview of The payment of Bonus Act, 1965 by virtue of your Salary being more than Rs21,000/- in a Financial year.you come under the Purview of Bonus Act, if your Basic Salary+DA+VDA is Rs21,000/- 7 less Per Month.
From India, New Delhi
From India, New Delhi
Hi Aniket,
Employee's who do not come under Bonus Act will be paid ex-gratia., in few companies . Whether your company pays ex-gratia or not may be confirmed, if paid in earlier years. You will not be eligible for bonus , if your salary exceeds rs.21000/- per month.
Your ex-gratia will paid assuming your gross to @ Rs.7000/- per month and will be limited bonus % (amount )declared for the year.
Thanks and regards
From India, Visakhapatnam
Employee's who do not come under Bonus Act will be paid ex-gratia., in few companies . Whether your company pays ex-gratia or not may be confirmed, if paid in earlier years. You will not be eligible for bonus , if your salary exceeds rs.21000/- per month.
Your ex-gratia will paid assuming your gross to @ Rs.7000/- per month and will be limited bonus % (amount )declared for the year.
Thanks and regards
From India, Visakhapatnam
Dear Sir,
My question is if my company pays bonus on the basis of 3500/- to the all employees may their salary be above 21000/- as this case is of 2014-15 above 10000/- then can they term the bonus amount as ex-Gratia and deny it for the employees who resigned???
From India, Pune
My question is if my company pays bonus on the basis of 3500/- to the all employees may their salary be above 21000/- as this case is of 2014-15 above 10000/- then can they term the bonus amount as ex-Gratia and deny it for the employees who resigned???
From India, Pune
Dear Mr Aniket, Please Peruse Bonus Act as on 2014-15
Employees drawing Basic Salary up to Rs10,000/-PM were covered under act.The Calculation of Bonus was limited to Rs3,500/- you have to check up on your own whether you were under the purview of Bonus Act during 2014-15? We are not in a position to comment on Company Policy/Practice Followed.We can only interpret laws not policies which are purely at the discretion of Management
From India, New Delhi
Employees drawing Basic Salary up to Rs10,000/-PM were covered under act.The Calculation of Bonus was limited to Rs3,500/- you have to check up on your own whether you were under the purview of Bonus Act during 2014-15? We are not in a position to comment on Company Policy/Practice Followed.We can only interpret laws not policies which are purely at the discretion of Management
From India, New Delhi
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