Applicability of bonus varies from case to case basis.
As per payment of bonus act the rate of bonus is fixed as per act or as settlement arrived between the two parties. As Bonus is to be paid in next financial year based on the calculation of profitability of last/current financial year. But this case is for maximum limit of payment of bonus.
In an organisation having regular employees or Parmanent nature of job provision for maximum payment of bonus is applicable.
The appropriate authority has the power to decide and define the rate of bonus based on the performance of the company during applicable financial year. The appropriate authority weather it is central or state, has the power to settle the rate of bonus at higher rate then applicable one in bipartite aur tripartite level. In such settlement award can we given by appropriate authority e for monthly payment of bonus.
But in cases where worker is engaged in one employer or happened to be engaged in other employer next financial year all part of financial year in such cases calculation and payment of bonus is really a tough task. As per bonus act time arrived for the payment of bonus to these workers till that time they are not the worker of their previous employer. In all such cases payment of bonus on monthly basis is is judicious and practical.
As per payment of bonus act the rate of bonus is fixed as per act or as settlement arrived between the two parties. As Bonus is to be paid in next financial year based on the calculation of profitability of last/current financial year. But this case is for maximum limit of payment of bonus.
In an organisation having regular employees or Parmanent nature of job provision for maximum payment of bonus is applicable.
The appropriate authority has the power to decide and define the rate of bonus based on the performance of the company during applicable financial year. The appropriate authority weather it is central or state, has the power to settle the rate of bonus at higher rate then applicable one in bipartite aur tripartite level. In such settlement award can we given by appropriate authority e for monthly payment of bonus.
But in cases where worker is engaged in one employer or happened to be engaged in other employer next financial year all part of financial year in such cases calculation and payment of bonus is really a tough task. As per bonus act time arrived for the payment of bonus to these workers till that time they are not the worker of their previous employer. In all such cases payment of bonus on monthly basis is is judicious and practical.