Payment of Bonus Act: Eligibility to receive Bonus for 2008-2009 due before 30th November 2009.
Dear Friends,
Can I have a clarification and views on the following:
An employees has an eligible salary under the Payment of Bonus Act of Rs.9990/- for the period 1April 2008 to 30th Oct 2008.From 1st November 2008 his salary becomes 11,000/-by an increment in his Basic.
1. The question is, will he be entitled for Bonus or not in view of his Salary exceeding the Qualifying limit of Rs.10, 000/-pm under Section 2 of the Act?
2. If he is entitled, should it be restricted till 30th Oct 2008.i.e Rs.3,500/multiplied by 7 months?
Would be extremely grateful for views on the above.
Thanks,
Regards,
Sanjib.
Dear Friends,
Can I have a clarification and views on the following:
An employees has an eligible salary under the Payment of Bonus Act of Rs.9990/- for the period 1April 2008 to 30th Oct 2008.From 1st November 2008 his salary becomes 11,000/-by an increment in his Basic.
1. The question is, will he be entitled for Bonus or not in view of his Salary exceeding the Qualifying limit of Rs.10, 000/-pm under Section 2 of the Act?
2. If he is entitled, should it be restricted till 30th Oct 2008.i.e Rs.3,500/multiplied by 7 months?
Would be extremely grateful for views on the above.
Thanks,
Regards,
Sanjib.