Pan Singh Dangwal
Srinath Sai Ram
The payment of bonus act, 1965 does provide such specifications:
According to Payment of Bonus Act 1965:
Eligibility for bonus.—Every employee shall be entitled to be paid by his employer in an accounting year, bonus, in accordance with the provisions of this Act, provided he has worked in the establishment for not less than thirty working days in that year.
Computation of number of working days. — An employee shall be deemed to have worked in an establishment in any accounting year also on the days on which—
(a) He has been laid off under an agreement or as permitted by standing orders under the Industrial Employment (Standing Orders) Act, 1946
(b) He has been on leave with salary or wage;
(c) He has been absent due to temporary disablement caused by accident arising out of and in the course of his employment
(d) The employee has been on maternity leave with salary or wage, during the accounting year.
26th May 2017 From India, Bhubaneswar
26th May 2017 From India, Madras
27th May 2017 From India, Gurgaon
Pls note the statutory Wage Ceiling for calculation the Bonus has been increased to Rs. 21K. The minimum bonus is Rs. 7K or the minimum wage for the scheduled employment, as fixed by the appropriate Government, whichever is higher. The revised Bonus rules are applicable wef Apr. 14. PFA the notification for your ready reference.
In relation to Bonus payment in r/o loss, I would like to add if it is a startup (new) establishment and making loss in the initial three years than it is not mandatory for such establishment for making Bonus payment as per the provisions of the Act.
Fellow members can correct me.
27th May 2017 From India, Delhi
27th May 2017 From India, New Delhi