No Tags Found!


parag_kawale
2

Dear All,
An Employee's basic+DA was Rs.7000/- per month for the initial three months during the financial year and the basic increased after appraisal to Rs.10500/- pm. for the rest of year.
So my question is, whether he will get the bonus for initial three months only or what? because he crossed the eligibility limit after three months.
I want to know what will he get as per Bonus Act.
Thanks,
Parag

From India, Nasik
dev83_hr
33

Dear Parag,
As per your post,there is two query :
1. What is yours company norms on the bonus eligibility mean its depend on the employer rather he pay or not.
2. As per bonus act he is eligible for bonus on the basic 7000 pm.
Regards
dev

From India, Ludhiana
parag_kawale
2

Dear Dev,
Thanks for your response. As far as I know, if Company is willing to pay him on Rs.10500/- also then that will not be termed as bonus. My query is, as per Bonus act the bonus amount will be calculated for only initial three months when the employee's basic was Rs.7000/- or for the whole year?
regards,
Parag

From India, Nasik
pkjain62
78

Dear Parag
The employee concerned would be paid Bonus for three months only i. e. for the period in which his salary was less then 10 K. As soon as his salary crossed the limit of 10K he would be out of the perview of the Bonus Act as per Sec. 2(13) of the Bonus Act.
pkjain

From India, Delhi
arnab.dasgupta1983
44

Dear Parag,
The concerned employee shall be eligible for payment of bonus till the time his basic salary (basic+DA) was less than equal to Rs.10000/month.
As per the provision of payment of bonus act (amendment,2007) ,while computing the bonus the basic pay has to be considered @ Rs.3500/pm and the payout to be computed for three months at the rate of bonus payable as per the discretion of the management of your company (ranging between 8.33% to 20%).

From India, Chandigarh
praveenpathak538
7

Dear Parag,
First of all you should check your company policy and act accordingly.As per Payment of bonus act, bonus is payable on pro-rata basis i.e.employees is eligible for bonus when basic+DA was less than 10000.In above mentioned condition employee will get bonus of 3 months only.
Regards,
Praveen

From India, Mumbai
Community Support and Knowledge-base on business, career and organisational prospects and issues - Register and Log In to CiteHR and post your query, download formats and be part of a fostered community of professionals.





Contact Us Privacy Policy Disclaimer Terms Of Service

All rights reserved @ 2024 CiteHR ®

All Copyright And Trademarks in Posts Held By Respective Owners.