Dear Team,
if we get covered under section 31A of the Payment of Bonus Act where payment of annual bonus is linked with production or productivity and not linked with allocable surplus, do we required to calculate allocable surplus and maintain set on and set off registers ?
Regards;
tarsem singh
From India, New Delhi
14if we get covered under section 31A of the Payment of Bonus Act where payment of annual bonus is linked with production or productivity and not linked with allocable surplus, do we required to calculate allocable surplus and maintain set on and set off registers ?
Regards;
tarsem singh
From India, New Delhi
PROFESSIONALS AND BUSINESSES PARTICIPATING IN DISCUSSION
Please read section carefully, it clearly speak that nothing in this Act will effect, wherein the Employer and Employee entered into a settlement or agreement to pay bonus linked with the Productivity, then in that case they will be continued to be govern by that settlement.
In this senerio, the bonus will not be calculated allocable surplus. it shall be according to that settlement but subject to 20% only.
Regards
Sanjay Kumar
In this senerio, the bonus will not be calculated allocable surplus. it shall be according to that settlement but subject to 20% only.
Regards
Sanjay Kumar
I do not find any exemption form Register A & B. I can understand in such situation, when Employer is providing bonus linked with production according to settlement or agreement, there is no relevance of these registers.
But in absence of any exemption, they shall be maintained.
Regards
But in absence of any exemption, they shall be maintained.
Regards
Its applicable to an establishment or Factories wherein 20 or 20 employees are working.
if IT/Software company has more than 20 employee than it will be appplicable but the employee who eligible for getting bonus shall be whose salary is upto Rs 10000 or less than 100000( Basic +DA).
those Employee having more than Rs 10000(basic + DA) will out of preview of the Bonus Act.
if IT/Software company has more than 20 employee than it will be appplicable but the employee who eligible for getting bonus shall be whose salary is upto Rs 10000 or less than 100000( Basic +DA).
those Employee having more than Rs 10000(basic + DA) will out of preview of the Bonus Act.
hi everyone there is any provision in that section that employer will pay only one in performance linked incentive or bonus? kindly clarify
From Ireland, Dublin
From Ireland, Dublin
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