Hi,
Please let me know about the eligibility of an employee for getting a bonus. If an employee had joined a private limited firm in April 2016, then is he eligible for a bonus in November 2016 or not? When is he eligible?
Please reply.
Regards,
Ashish
From India, Lucknow
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Please let me know about the eligibility of an employee for getting a bonus. If an employee had joined a private limited firm in April 2016, then is he eligible for a bonus in November 2016 or not? When is he eligible?
Please reply.
Regards,
Ashish
From India, Lucknow
Acknowledge(0)Amend(0)
Bonus as per the Payment of Bonus Act is payable only if the employee has worked for the required minimum number of days (30 days) in the financial year for which the bonus is being paid in the current year. That is, you will be paying the bonus for the financial year 2015-16 now. Since the employee was not there in 2015-16, he is not eligible for statutory bonus this year. Obviously, he will get the bonus next year based on his earnings in this financial year, 2016-17.
Madhu.T.K
From India, Kannur
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4670Madhu.T.K
From India, Kannur
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Amendment to Payment of Bonus Act 2015.jpg
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