Hi this is vikas , I want to know, is the bonus mandatory to be given with full and final or it can be given after full and final given to employee?
From India, New Delhi
From India, New Delhi
Statutory Bonus has to be calculated only after the close of the Accounting Year for which it pertains to and to be disbursed to the employees within 8 months from the close of the AY.
Therefore, in case of employees leaving the establishment any time during the AY, Bonus need not be paid along with the F&F settlement and can be paid later when bonus is quantified and paid.
From India, Salem
6016Therefore, in case of employees leaving the establishment any time during the AY, Bonus need not be paid along with the F&F settlement and can be paid later when bonus is quantified and paid.
From India, Salem
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Bigger bonuses for more as Lok Sabha amends Payment of Bonus Act - The Economic Times.pdf
THE PAYMENT OF BONUS ACT.doc