Hi....
Please Let Me Know Abt The Eligibility Of An Employee For Getting Bonus -
If An Employee Had Joined A Pvt Ltd Firm In April '2016 Then Whether He Is Liable For Bonus In November '2016 or Not?...or when he is liable?
Pls Reply
Regards
Ashish
From India, Lucknow
Please Let Me Know Abt The Eligibility Of An Employee For Getting Bonus -
If An Employee Had Joined A Pvt Ltd Firm In April '2016 Then Whether He Is Liable For Bonus In November '2016 or Not?...or when he is liable?
Pls Reply
Regards
Ashish
From India, Lucknow
Bonus as per payment of Bonus Act is payable only if the employee has worked for the required minimum number of days ( 30 days) in the Financial year of which the bonus is paying in the current year. That is, you will be paying the bonus of FY 2015-16 now. Since the employee was not there in 2015-16 he is not eligible for statutory bonus this year. Obviously, he will get bonus next year based on his earnings in this FY, 2016-17.
Madhu.T.K
From India, Kannur
4193Madhu.T.K
From India, Kannur
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.
Gratuity Eligibility.pdf
Travel eligibility - amended.doc
Pfloan-eligibil ity.xls