Salary Components and Bonus Eligibility
What are your salary components, i.e., Basic, DA, Gross, etc.?
If you are receiving Basic, DA, or a consolidated salary exceeding Rs. 21,000 per month from 1st April 2015, you are not eligible for Payment of Bonus as per the act. You have mentioned that you received a bonus every year in the month of March. If that is the case, your company is violating the law.
In India, it is mandatory for every Indian Company and Indian Multinational Company to have their Financial Year from 1st April to 31st March. Hence, your company is obligated to pay the Bonus within 8 months from the close of the financial year, i.e., on or before 30th November, as communicated by Mr. Srinath Sai Ram.
Since your company is making payments in the month of March, it may not be a Bonus but an ex-gratia payment as a gesture of goodwill made by your company, for which you cannot demand as your right.
If your Basic salary is less than Rs. 21,000 per month, you are entitled to a minimum Bonus amount of Rs. 7,000 or an amount equivalent to the Minimum wages, whichever is higher (subject to you working for the whole year).
If you meet the above criteria, as suggested by Shri Divekar, make a written communication for the release of the same.
Regards,
Suresh