Hello Sir,
I wanted to know if an employee resigns from the organization, then is payable to him for the previous year. For example, if an employee joins in April 2007 and resigns in September 2008, then is the bonus for the year 2008-09 payable to him or not? Also, considering that he draws a salary with basic below 10000. How much amount is to be payable to him?
Please guide.
Regards, Manisha
From India, Pune
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1I wanted to know if an employee resigns from the organization, then is payable to him for the previous year. For example, if an employee joins in April 2007 and resigns in September 2008, then is the bonus for the year 2008-09 payable to him or not? Also, considering that he draws a salary with basic below 10000. How much amount is to be payable to him?
Please guide.
Regards, Manisha
From India, Pune
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Any employee who has worked for at least 30 days in the financial year and whose qualifying salary (Basic + DA) does not increase by Rs 10,000 is eligible for a bonus at the rate agreed upon in this respect. The bonus of all employees whose salary is between Rs 3,500 and Rs 10,000 will, however, be calculated as if the salary is Rs 3,500 only.
An employee who has left service and meets the above criteria is entitled to receive a bonus. The rate of the bonus will be the same as that applicable to other employees and may vary from 8.33% to 20%.
Regards,
Madhu.T.K
From India, Kannur
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An employee who has left service and meets the above criteria is entitled to receive a bonus. The rate of the bonus will be the same as that applicable to other employees and may vary from 8.33% to 20%.
Regards,
Madhu.T.K
From India, Kannur
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