Dear All,
Company i work for was formed as partnership company in the year 2000. In 2004 it became Private Limited company. All the employees are on Contract bases & not on salary. We have staff of 25 people.
I had 2 queries:
1) Is bonus Compulsory? Does company have to pay it compulsory & at fix rate even if employees are on Contract Basis.
2) Is Gratuity apply for employees on contract too?
As when raised query with management, management replied that company will deduct gratuity portions from salary to employee. as it Happens in all companies.
Just wanted to know that Is Gratuity compulsory? & does amount gets deducted from existing salary.
Company i work for was formed as partnership company in the year 2000. In 2004 it became Private Limited company. All the employees are on Contract bases & not on salary. We have staff of 25 people.
I had 2 queries:
1) Is bonus Compulsory? Does company have to pay it compulsory & at fix rate even if employees are on Contract Basis.
2) Is Gratuity apply for employees on contract too?
As when raised query with management, management replied that company will deduct gratuity portions from salary to employee. as it Happens in all companies.
Just wanted to know that Is Gratuity compulsory? & does amount gets deducted from existing salary.