Asso.prof.(commerce & Management) Pg
Assistant Engineer, Indian Telephone Industries,
Ir, Er, Payroll, Recruitment,
It extends to the whole of India and is applicable to every factory and to every other establishment where there are 20 or more workmen employed on any day during an accounting year
Eligibility For Bonus
Every employee receiving salary or wages upto RS. 10000 p.m. and engaged in any kind of work whether skilled, unskilled, managerial, supervisory etc. is entitled to bonus for every accounting year if he has worked for minimum 30 working days in that particular year.
Exgratia is a voluntary payment by employer to employee.
The payment of bonus excluding bonus payable under the PBA is ex-gratia payment and an employer cannot be forced to make such payment. But where ex-gratia payment is being made to every employee, then the employer can not deny the same to a particular employee as per his wish and fancy..
26th June 2015 From India, Pune
Bonus is statutory under the payment of bonus act for a salary upto Rs.10,000. The maximum bonus is 20% per annum. If employer pay over and above 20%, it is called Ex-gratia. Also if employer pay an amount in lieu of bonus to employees with a salary of above Rs. 10,000 is also called Ex-gratia.
In nut shell, Bonus is statutory and Ex-gratia is optional. Also Bonus is within the limit of Bonus Act and ex-gratia is above coverage.
27th June 2015 From India, Bangalore
29th June 2015 From India, Bangalore
30th June 2015 From India, Selam