I have completed 6 years in a private limited company and am currently in the notice period. I just wanted to know if I will receive a bonus as per the Payment of Bonus (Amendment) Act, 2015 in my full and final settlement, which includes gratuity and pending salary.
From India, Bangalore
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From India, Bangalore
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Dear Sir, Company will pay you the bonus with everyone else & not it full & final settlement. As bonus will be due on that date.
From India, Pune
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94From India, Pune
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"Every employee shall be entitled to be paid by his employer in an accounting year, bonus, in accordance with the provisions of The Payment of Bonus Act, 1965, provided he has worked in the establishment for not less than 30 working days in that year."
Hope you fulfill this criterion (irrespective of your notice period). The criterion that adds with this in the "Payment Of Bonus (Amendment) Act, 2015" is the enhancement of floor and ceiling amounts from 3,500 to 7,000 as the floor value and 10,000 to 21,000, and that has nothing to do with your concern.
Apart from this, as you said, completing 6 years, you become eligible for gratuity. Pending salary is subject to the terms and conditions as briefed in your appointment order on complying with the notice served.
Regards, M. Harishkumar
From India
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Hope you fulfill this criterion (irrespective of your notice period). The criterion that adds with this in the "Payment Of Bonus (Amendment) Act, 2015" is the enhancement of floor and ceiling amounts from 3,500 to 7,000 as the floor value and 10,000 to 21,000, and that has nothing to do with your concern.
Apart from this, as you said, completing 6 years, you become eligible for gratuity. Pending salary is subject to the terms and conditions as briefed in your appointment order on complying with the notice served.
Regards, M. Harishkumar
From India
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Amendment to Payment of Bonus Act 2015.jpg
Bigger bonuses for more as Lok Sabha amends Payment of Bonus Act - The Economic Times.pdf
THE PAYMENT OF BONUS ACT.doc