Can anyone help me with the below-mentioned questions? Kindly reply and assist me.
1) Why do the British term it as Deepavali Bonus instead of calling it Statutory Bonus?
2) Why was the Statutory Bonus introduced in India by the British?
3) What was the wage system in India before the British came to rule?
From India, Pune
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1) Why do the British term it as Deepavali Bonus instead of calling it Statutory Bonus?
2) Why was the Statutory Bonus introduced in India by the British?
3) What was the wage system in India before the British came to rule?
From India, Pune
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Dear Vijey,
Why do the British refer to it as Deepavali Bonus instead of calling it Statutory Bonus? Nobody has termed it as Deepavali Bonus, and you cannot find the word 'Deepavali' in the Acts either. The fact is, a Bonus is paid or payable once a year, generally within 6 months after the completion of the accounting year, which is March 31 of any given year. Following that, within 6 months means before September 30, coinciding with the Deepavali/Durga Pooja season in India. As you may know, for most Hindus, the most expensive festival/season is Deepavali, involving new clothing, sweets, crackers, gifts, etc. Every individual/family/employee requires some additional income, apart from their salary, to meet these expenses beyond their monthly budget. Therefore, the bonus payment serves as timely assistance. Some small private firms follow the practice of timing this payment to coincide with major festivals, such as before Christmas for Christians and before Ramzan for Muslims, as per their preferences.
Why was the Statutory Bonus introduced in India by the Britishers? See the attachment.
What was the wage system in India before the British came to rule? India was not a single unified country before the Britishers arrived on "Bharatha Kandam," as it was known beyond the Indian plateau at that time. We owe thanks to the Britishers who annexed over 50 provinces/kingdoms, both big and small, existing at the time, and unified them to form a single country named India. Arguably, according to ancient history, there was no country known as 'India' before British rule. The people living around the Indus River valley were called 'Indus,' and the invading Persians/Greeks (Aryans) who did not use 'I' substituted it with 'H,' hence 'Hindus,' Hindustan, and so forth. It is also true that various rulers like the Cholas, Chalukyas, Guptas, Harshas, Mauryas, Ashoka, Pulakesins, Marathas, Rajputs, Sikhs, Krishna Deva Raya, and many others (not in the same order) ruled different parts of India during various periods under their kingdoms, now known as 'Emperors.' Such unification was also witnessed during the Mughal rule, with Akbar being recognized as the greatest ruler who controlled a significant part of India. This is why India is renowned for its 'Unity in Diversity' due to its diverse cultures, languages, eating habits, varied climates, clothing, etc.
Though these kings/emperors introduced various methods and systems to govern their territories, it was only during British rule that India saw the formalization of codified written Acts and rules. Before them, the methods used are anyone's guess, as it depended on the rulers' perspectives. Of course, we can learn about these methods from ancient history, most of which suggest daily wage payments not in cash (i.e., coins) but in kind, such as grains and other daily essentials. During British rule, systems were established for daily, weekly, bi-weekly, and later monthly wage payments in cash, as they introduced coinage and notes that were widely circulated throughout India.
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I have corrected the spelling, grammar, and punctuation errors in the text while maintaining the original meaning and tone. I have also ensured proper paragraph formatting. Let me know if you need further assistance.
From India, Bangalore
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1159Why do the British refer to it as Deepavali Bonus instead of calling it Statutory Bonus? Nobody has termed it as Deepavali Bonus, and you cannot find the word 'Deepavali' in the Acts either. The fact is, a Bonus is paid or payable once a year, generally within 6 months after the completion of the accounting year, which is March 31 of any given year. Following that, within 6 months means before September 30, coinciding with the Deepavali/Durga Pooja season in India. As you may know, for most Hindus, the most expensive festival/season is Deepavali, involving new clothing, sweets, crackers, gifts, etc. Every individual/family/employee requires some additional income, apart from their salary, to meet these expenses beyond their monthly budget. Therefore, the bonus payment serves as timely assistance. Some small private firms follow the practice of timing this payment to coincide with major festivals, such as before Christmas for Christians and before Ramzan for Muslims, as per their preferences.
Why was the Statutory Bonus introduced in India by the Britishers? See the attachment.
What was the wage system in India before the British came to rule? India was not a single unified country before the Britishers arrived on "Bharatha Kandam," as it was known beyond the Indian plateau at that time. We owe thanks to the Britishers who annexed over 50 provinces/kingdoms, both big and small, existing at the time, and unified them to form a single country named India. Arguably, according to ancient history, there was no country known as 'India' before British rule. The people living around the Indus River valley were called 'Indus,' and the invading Persians/Greeks (Aryans) who did not use 'I' substituted it with 'H,' hence 'Hindus,' Hindustan, and so forth. It is also true that various rulers like the Cholas, Chalukyas, Guptas, Harshas, Mauryas, Ashoka, Pulakesins, Marathas, Rajputs, Sikhs, Krishna Deva Raya, and many others (not in the same order) ruled different parts of India during various periods under their kingdoms, now known as 'Emperors.' Such unification was also witnessed during the Mughal rule, with Akbar being recognized as the greatest ruler who controlled a significant part of India. This is why India is renowned for its 'Unity in Diversity' due to its diverse cultures, languages, eating habits, varied climates, clothing, etc.
Though these kings/emperors introduced various methods and systems to govern their territories, it was only during British rule that India saw the formalization of codified written Acts and rules. Before them, the methods used are anyone's guess, as it depended on the rulers' perspectives. Of course, we can learn about these methods from ancient history, most of which suggest daily wage payments not in cash (i.e., coins) but in kind, such as grains and other daily essentials. During British rule, systems were established for daily, weekly, bi-weekly, and later monthly wage payments in cash, as they introduced coinage and notes that were widely circulated throughout India.
---
I have corrected the spelling, grammar, and punctuation errors in the text while maintaining the original meaning and tone. I have also ensured proper paragraph formatting. Let me know if you need further assistance.
From India, Bangalore
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The Payment Of Bonus Act 1965-Update-02- 01.01.16-Wage - 21K- Min Bons 7K-01.04.14.pdf
Amendment to Payment of Bonus Act 2015.jpg