Are Companies Required to Pay Festival Bonuses? Seeking Clarity on Bonus Policies

I am working at PMC Company. I think they are not paying any bonuses for festivals. Is it mandatory for the company to pay a bonus?

You think they are not paying any bonus? You do not know? Have you asked the HR department? Are you asking only about the festival bonus or also about the statutory bonus?

Also, how many people work for your company, and what is your salary?

Please remember that without full and proper information, you will not get the correct answer.

For statutory bonus, as per the Bonus Act, a company is bound to pay a bonus only to those employees whose gross salary is up to Rs. 10,000 per month (8.33-12% of basic). Employees having a gross salary of more than Rs. 10,000 are not legally entitled to a bonus. However, it is the company's choice whether they pay a bonus to these employees or not.

Seniors, please correct me if required.

Regards,
Ashutosh

I am attaching this file which explains elaborately about bonuses in a question-and-answer style. Kindly go through it and clear your doubts. Thanks to the author.

Regards,
Alphonse