I was working in a company from May 1, 2010, to March 7, 2013. I received my salary on the 7th and resigned from the job the next day. The company provides bonuses to employees based on their salary levels. Those earning below ₹10,000/month receive one month's salary as a bonus, while those earning above ₹10,000/month receive a bonus of ₹9,999.00. The bonus amount is calculated based on the number of days worked during the financial year, which in this case is from April 2012 to March 2013.
I would like to know how much bonus I am entitled to as per Indian law. Additionally, I am curious if I will receive payment for the last 7 days of work in March.
From India, Mumbai
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I would like to know how much bonus I am entitled to as per Indian law. Additionally, I am curious if I will receive payment for the last 7 days of work in March.
From India, Mumbai
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How much is your salary? If it is up to Rs. 10,000, you are eligible for a bonus as per the Act. If it is beyond Rs. 10,000, you are not eligible. Management may pay in lieu of a bonus, which is called a "day." It may be as per their wish or based on agreements with the representative bodies.
Regards,
Abbas.P.S
From India, Bangalore
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530Regards,
Abbas.P.S
From India, Bangalore
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How much is your salary? If it is up to Rs. 10,000, you are eligible for a bonus as per the Act. If it is beyond Rs. 10,000, you are not eligible. Management may pay in lieu of a bonus, which is called Ex-gratia. It may be as per Management's wish or based on agreements with the representative bodies.
Regards,
Abbas.P.S
From India, Bangalore
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Regards,
Abbas.P.S
From India, Bangalore
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BONUS CALCULATION FOR W.B.Govt employee for 2010-2011.xls
Salary calculation.doc