Hello Everyone, An employee has his/her bonus deducted from their CTC salary, now i want to know at the time of bonus what bonus he /she get. a deduction part or a deduction + bonus given by company?
From India, Gurgaon
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1From India, Gurgaon
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Bonus Regulation under the Payment of Bonus Act
Bonus, in general, is regulated under the Payment of Bonus Act. It may be a part of the Cost to Company (CTC) but should not be included in the monthly gross salary. In the specific situation at hand, a certain bonus amount was considered as a component of the CTC, and subsequently, the organization may declare a different percentage of bonus. According to the Payment of Bonus Act, only one bonus is required to be paid, as finally declared by the organization.
Profit-Sharing Bonus
If the organization provides another type of bonus, such as a profit-sharing bonus, it will be separate and unrelated to the Payment of Bonus Act.
Regards, S K Bandyopadhyay (WB, Howrah)
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From India, New Delhi
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Bonus, in general, is regulated under the Payment of Bonus Act. It may be a part of the Cost to Company (CTC) but should not be included in the monthly gross salary. In the specific situation at hand, a certain bonus amount was considered as a component of the CTC, and subsequently, the organization may declare a different percentage of bonus. According to the Payment of Bonus Act, only one bonus is required to be paid, as finally declared by the organization.
Profit-Sharing Bonus
If the organization provides another type of bonus, such as a profit-sharing bonus, it will be separate and unrelated to the Payment of Bonus Act.
Regards, S K Bandyopadhyay (WB, Howrah)
[Email Removed For Privacy Reasons]
From India, New Delhi
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I am working with a company with headquarters in Mumbai and a manufacturing setup in Umbergaon. I have tried all the contact numbers on the website, but there has been no response.
Query regarding the appointment of labor through a contractor
The contractor supplies labor and charges us for the same in the monthly bill (wages + PF). I have a query about bonuses. It would be great if you could share your views/inputs. Are contract employees eligible for bonuses? If so, how much is the principal employer liable to pay if the contractor fails to do so? Is the bonus considered a liability of the principal employer if the contract agreement does not mention the 'bonus clause'?
I look forward to your reply.
From India, Pune
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Query regarding the appointment of labor through a contractor
The contractor supplies labor and charges us for the same in the monthly bill (wages + PF). I have a query about bonuses. It would be great if you could share your views/inputs. Are contract employees eligible for bonuses? If so, how much is the principal employer liable to pay if the contractor fails to do so? Is the bonus considered a liability of the principal employer if the contract agreement does not mention the 'bonus clause'?
I look forward to your reply.
From India, Pune
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Bigger bonuses for more as Lok Sabha amends Payment of Bonus Act - The Economic Times.pdf
Contract Labor - PPT.ppt