If an employee works for the entire financial year, i.e., from 1st April to 31st March, and submits their resignation on the 15th of March with a notice period of one month, their last working day would be on the 15th of April in the next financial year. Are they eligible for a bonus for that financial year?
From India, Hyderabad
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From India, Hyderabad
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Dear Sunny ji,
If an employee works for a minimum of 30 days in a financial year, he is eligible for a bonus. Therefore, the said employee is eligible for a bonus for the current financial year and the next year not. As per the Payment of Bonus (POB) Act, employees drawing wages (basic + DA) up to Rs. 10,000 per month are eligible for a bonus.
From India, Mumbai
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2584If an employee works for a minimum of 30 days in a financial year, he is eligible for a bonus. Therefore, the said employee is eligible for a bonus for the current financial year and the next year not. As per the Payment of Bonus (POB) Act, employees drawing wages (basic + DA) up to Rs. 10,000 per month are eligible for a bonus.
From India, Mumbai
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