Does bonus include customary bonus? Is Customary bonus adjustable against the statutory bonus ?
From India, Jamnagar
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From India, Jamnagar
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Customary Bonuses and Statutory Bonuses
As per Sec-17 of the PB Act, any organization can adjust the customary bonus with the statutory bonus.
Customary bonuses are very common in India. They are for different customs such as Durga Puja, Eid, Diwali, Christmas, etc., where bonuses are paid to employees. Moreover, there are many organizations that pay bonuses without considering the available surplus, allocable surplus, set on, and set off. This is also considered a customary bonus.
We have one client who is paying a bonus equivalent to two months of Basic & DA without any upper limit, which is also a customary bonus.
Regards, S. K. Bandyopadhyay (WB, Howrah) CEO - USD HR Solutions [Phone Number Removed For Privacy-Reasons] [Email Removed For Privacy Reasons] USD HR Solutions – To strive towards excellence with effort and integrity
From India, New Delhi
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367As per Sec-17 of the PB Act, any organization can adjust the customary bonus with the statutory bonus.
Customary bonuses are very common in India. They are for different customs such as Durga Puja, Eid, Diwali, Christmas, etc., where bonuses are paid to employees. Moreover, there are many organizations that pay bonuses without considering the available surplus, allocable surplus, set on, and set off. This is also considered a customary bonus.
We have one client who is paying a bonus equivalent to two months of Basic & DA without any upper limit, which is also a customary bonus.
Regards, S. K. Bandyopadhyay (WB, Howrah) CEO - USD HR Solutions [Phone Number Removed For Privacy-Reasons] [Email Removed For Privacy Reasons] USD HR Solutions – To strive towards excellence with effort and integrity
From India, New Delhi
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