Hello Team,
Myself Mohana working as a HR in a startup company. I need to introduce bonus policy in my company and i'm new to Labor Laws. It would be great if anyone can throw some light on different bonus policies followed by IT Software Development & Services companies in India (Kerala).
From India, Chennai
Myself Mohana working as a HR in a startup company. I need to introduce bonus policy in my company and i'm new to Labor Laws. It would be great if anyone can throw some light on different bonus policies followed by IT Software Development & Services companies in India (Kerala).
From India, Chennai
Hi Mohana As per the latest bonus act company has to pay minimum bonus of 7000/- or the minimum wages pertaining to your region which ever is high.
From India, Bangalore
633From India, Bangalore
Hello Jeevarathnam, Thanks for the information. Are you talking about yearly bonus! i want to know if we are planning to give performance bonus then is it compulsory to give yearly bonus?
From India, Chennai
From India, Chennai
No. Other than the Statutory bonus there is no any performance bonus related to the statutory. It is left to the company discretion and company policy.
Many companies follow Performance Bonus to motivate the employee to improve the productivity
If need any assistance you can reach me
From India, Bangalore
Many companies follow Performance Bonus to motivate the employee to improve the productivity
If need any assistance you can reach me
From India, Bangalore
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Amendment to Payment of Bonus Act 2015.jpg
Bonus act amendment gazette copy.pdf
Canteen Policy.doc