Saswatabanerjee
Partner - Risk Management
Boss2966
Industrial Relations
Abbasiti
Assistant Engineer, Indian Telephone Industries,
Tatkare_finance2012@yahoo.in
Hr & Admin Executive

Hello Everyone.
I am new to this forum and recently started as an Hr executive.
This is my first company and i am very new to Factory issues.
Now the problem is its Diwali and labour of our organization are asking for bonus. there are 7 labours and 15 staff out of which 10 has Basic+DA more than 10,000.
So for remaining 5 staff members and 7 labours, is it compulsory to give bonus? From past two years company is running under losses.
Please need expertise suggestion.
Santosh
Cite.Co is a repository of information created by your industry peers and experienced seniors made possible with help from our prime sponsors like:

TALENTEDGE Who provide a platform for "interactive anywhere learning". Courses from top reputed institutes like IIM, XLRI, MICA. View Courses

FACTOHR - Provides Customised Payroll, GPS Enabled Attendance, Travel, Performance Management, HRMS that can help streamline your organisation. Explore Features

Register Here and help by adding your inputs. Contributions From Other Members Follow Below...
Dear Santosh
Please note that eventhough the company runs on loss, you must pay the bonus. Here you can pay them the minimum bonus to them i.e., 8.33% Bonus amounting to Rs.3499/- for the whole year. If the person becomes absent (not leave) / joined after April 2011, then you can pay proportionately.
under payment of bonus act, a new factory does not have to pay bonus for the first 5 years if they are not making profit
from the next year onwards, they have to pay between 8.33% and 20% depending on the workings in Allocable Surplus Register (the working is given in the act very clearly).
if you are making a loss you still have to pay at least 8.33% of salary as bonus,
However, bonus is not applicable for any employee with a salary above Rs. 10,000
For the employees with salary of less than 10,000 but above Rs. 3500, the bonus is computed as if the salary is Rs. 3500
Dear Mr. Bhaskar, If salary is at a range of 3500 to 10,000; then minimum bonus is 3500, not 3499. Accordingly maximum bonus is 8400. Abbas.P.S
Add Reply Start A New Discussion






About Us Advertise Contact Us
Privacy Policy Disclaimer Terms Of Service



All rights reserved @ 2019 Cite.Co™