dear All
i have a very urgent question related to amendment in bonus act....Due to this amendment, those employees whose Basic is less than or equal to Rs 10,000 will now get Bonus.......Here lies a problem..........some of the employees in my company were getting Ex gratia previously ( which was a part of their CTC, and the % of Exgratia was much higher than Bonus obviously), but now due to the amendment, the company has paid them Bonus ...........so they have suffered a financial loss !!.........pls let me know whether the Company should compensate them since the employees are loosing out their money ( as it was a part of their CTC ) ...........what the other companies have done .......have they compensated the employees or not? kindly advise.
Thanks
Ritu Agarwal
i have a very urgent question related to amendment in bonus act....Due to this amendment, those employees whose Basic is less than or equal to Rs 10,000 will now get Bonus.......Here lies a problem..........some of the employees in my company were getting Ex gratia previously ( which was a part of their CTC, and the % of Exgratia was much higher than Bonus obviously), but now due to the amendment, the company has paid them Bonus ...........so they have suffered a financial loss !!.........pls let me know whether the Company should compensate them since the employees are loosing out their money ( as it was a part of their CTC ) ...........what the other companies have done .......have they compensated the employees or not? kindly advise.
Thanks
Ritu Agarwal