No Tags Found!

Megha Joshi_409
1

Greetings, Under the Payment of Bonus Act, while filing annual returns in FORM D - How to calculate the total no. of employees in the financial year?
Shall we consider no. of employees at the start or end of the financial year or the average number of employees in a year?

How the percentage of the bonus is decided? Is it mandatory to give 8. 33% or 20 % bonus?

From India, Pune
PROFESSIONALS AND BUSINESSES PARTICIPATING IN DISCUSSION
Alok-singh1
Labour Law & Ir.
Megha Joshi_409
Hr Manager

alok-singh1
78

Dear Megha,
*You have to consider actual employees (To whom the bonus was paid in the financial year) and you have to calculate on actual basis.
*The Payment of Bonus Act, 1965 provides for a minimum bonus of 8.33 (minimum) 20% (Maximum-20%) percent of earned wages.

*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 30 working days in that year.


Community Support and Knowledge-base on business, career and organisational prospects and issues - Register and Log In to CiteHR and post your query, download formats and be part of a fostered community of professionals.





Contact Us Privacy Policy Disclaimer Terms Of Service

All rights reserved @ 2023 CiteHR

All Copyright And Trademarks in Posts Held By Respective Owners.