Can someone tell me that I an employee leaves his/her company on 9th March 2012 (means worked for 11 months & 9 days) so should the employee eligible for Bonus for yr 2011 - 2012
Dear Shalu
An employee leaves his/her company on 9th March 2012 (means worked for 11 months & 9 days), the employee is eligible for Bonus for yr 2011 - 2012. According to the Payment of Bonus Act, if an employee worked more than 30 days in a year.then he/she is eligible for bonus.
But make sure that the above employee drawing a salary of Rs. 10,000 or below. If the salary above Rs. 10,000, Bonus Act will not applicable to him/her.
In such cases payment in lieu of bonus will be in accordance with the Agreements between Management and Trade Unions/ OAs or as per the discretion of the Management.
Abbas.P.S
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