Hi,
I have worked in a company for 2 months where yearly bonus was a part of my CTC which was deducted from monthly pay i.e. 643 /- per month. As I have resigned the company within 2 months with notice period, they are not agreed to pay the deducted bonus while it's a part of my CTC.
Please advice if as per the bonus law, can a company forfeit the employee bonus which is a part of CTC and should be paid at the end of the year.
From India, Delhi
I have worked in a company for 2 months where yearly bonus was a part of my CTC which was deducted from monthly pay i.e. 643 /- per month. As I have resigned the company within 2 months with notice period, they are not agreed to pay the deducted bonus while it's a part of my CTC.
Please advice if as per the bonus law, can a company forfeit the employee bonus which is a part of CTC and should be paid at the end of the year.
From India, Delhi
Usually if the Bonus is part of your salary and is included in the CTC then the same has to be paid. Check with your appointment letter and share the same with the seniors for response.
You say that the Bonus is deducted from Salary is it shown in the Payslip or you are calculating from the Salary Annexure given to you.
Please clarify and give further more details to get favourable replies from seniors
From India, Ahmadabad
733You say that the Bonus is deducted from Salary is it shown in the Payslip or you are calculating from the Salary Annexure given to you.
Please clarify and give further more details to get favourable replies from seniors
From India, Ahmadabad
The bonus you are referring may not come under POB Act 1965 Varghese Mathew
From India, Thiruvananthapuram
From India, Thiruvananthapuram
Dear Sir,
Normally bonus will not be part of your settlement.It will be paid only after the bonus is declared by the company and paid to all existing employees.Some organization calls for an application from the employees requesting them to send the bonus due to them for the period they have worked with the organization.
Regards,
R.Sitaram
From India, Mumbai
Normally bonus will not be part of your settlement.It will be paid only after the bonus is declared by the company and paid to all existing employees.Some organization calls for an application from the employees requesting them to send the bonus due to them for the period they have worked with the organization.
Regards,
R.Sitaram
From India, Mumbai
According to Bonus Act the employer has to pay the minimum bonus to the resigned employees. It is mandatory. So you can claim that
From India, Madurai
From India, Madurai
Doesn’t yearly bonus mean that the employee should work for a year before he is eligible for it?
From India, Bangalore
From India, Bangalore
According to bonus Act 1965 section 8 (any employee works 30 days in calender year then eligible for bonus payment ) so you can claim because in time of full & final Settlement company should have settle all dues like current month salary , leave en cash , bonus and Gratuity ( if 5 year comp)
From India, Hyderabad
From India, Hyderabad
Not necessary to work. Yearly calculation from Apr to Mar in period of time employee who works he does avail the bonus. The Minimum bonus to be paid the employees at least Rs.100 ( For new joinee) or 8.33 %
From India, Madurai
From India, Madurai
Hi,
The statutory bonus is obligatory to be paid if you have served minimum 30 days in a calender year. However it is not obligatory to pay it along with your FnF, company declares bonus payment withing maximum 9 months of completion of fiscal year. On the declaration, it becomes obligatory to pay you the said bonus.
From Saudi Arabia, Riyadh
The statutory bonus is obligatory to be paid if you have served minimum 30 days in a calender year. However it is not obligatory to pay it along with your FnF, company declares bonus payment withing maximum 9 months of completion of fiscal year. On the declaration, it becomes obligatory to pay you the said bonus.
From Saudi Arabia, Riyadh
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.
Amendment to Payment of Bonus Act 2015.jpg
Bonus act amendment gazette copy.pdf
Bonus-amendment _206.doc