dear All
i have a very urgent question related to amendment in bonus act....Due to this amendment, those employees whose Basic is less than or equal to Rs 10,000 will now get Bonus.......Here lies a problem..........some of the employees in my company were getting Ex gratia previously ( which was a part of their CTC, and the % of Exgratia was much higher than Bonus obviously), but now due to the amendment, the company has paid them Bonus ...........so they have suffered a financial loss !!.........pls let me know whether the Company should compensate them since the employees are loosing out their money ( as it was a part of their CTC ) ...........what the other companies have done ??.......have they compensated the employees or not? kindly advise. Also what should be done in those cases where the Ex gratia was not a part of CTC....( i mean employees have been getting Ex gratia as a matter of practice....so now should we compensate the balance amount ( Exgratia - Bonus).....pls do let me know what the other companies have done ?thanks a lot
Thanks
Ritu Agarwal
From India, New Delhi
i have a very urgent question related to amendment in bonus act....Due to this amendment, those employees whose Basic is less than or equal to Rs 10,000 will now get Bonus.......Here lies a problem..........some of the employees in my company were getting Ex gratia previously ( which was a part of their CTC, and the % of Exgratia was much higher than Bonus obviously), but now due to the amendment, the company has paid them Bonus ...........so they have suffered a financial loss !!.........pls let me know whether the Company should compensate them since the employees are loosing out their money ( as it was a part of their CTC ) ...........what the other companies have done ??.......have they compensated the employees or not? kindly advise. Also what should be done in those cases where the Ex gratia was not a part of CTC....( i mean employees have been getting Ex gratia as a matter of practice....so now should we compensate the balance amount ( Exgratia - Bonus).....pls do let me know what the other companies have done ?thanks a lot
Thanks
Ritu Agarwal
From India, New Delhi
Dear Ritu, Legally no protection required. However many companies protect the amount paid and pay bonus + ex-gratia. Manoj
From India, Lucknow
From India, Lucknow
dear ritu we were also having same problem but we have protected their CTC because it is negotiated salary and company should protect it.you can put rest amount in any oter head. tks j s malik
From India, Delhi
167From India, Delhi
Dear Friends,
This issue may be approached in two ways. One legal approach another moral on the basis of the customs and traditions of the company. Legally you have no obligation to protect but for the sake of ensuring industrial peace we should protect the amount which they were getting.In this case, whatever is legally due as bonus may be given under the heading bonus and rest of the amount in the exgratia heading
From India, Vellore
This issue may be approached in two ways. One legal approach another moral on the basis of the customs and traditions of the company. Legally you have no obligation to protect but for the sake of ensuring industrial peace we should protect the amount which they were getting.In this case, whatever is legally due as bonus may be given under the heading bonus and rest of the amount in the exgratia heading
From India, Vellore
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