Labour Law & Hr Consultant
Venkata Vamsi Krishna Patnaik
My question was that after 4 years how will I calculate the bonus? Since the gross salary keeps on changing every year what will be the total bonus after 4 years?
19th April 2018 From India, Kolkata
" Longevity Bonus " is a discretionary bonus paid by the employer to those employees who have rendered a long stretch of service in the same establishment. It can be in the form of one-time lump sum payment or certain percentage on their current salary or share certificates of a certain value. It is purely at the discretion of the employer to recognize the loyalty of such employees in serving the establishment for a substantial no. of years.
19th April 2018 From India, Salem