I had newly started a proprietorship firm (less than 1 year) that has various kinds of employees. Now, the problems I am facing are:
1. Three employees are asking for a bonus. They joined only in June, and they are not yet prompt in their work. I have had to pay a penalty to our client many times for their poor work. Now, they are asking for a Diwali bonus from me.
2. In another case, two employees who work quite well agreed with me that if they reach maximum capacity and complete any additional files, they will receive separate pay. Now they are also asking for their bonus.
My questions are:
1. What is the minimum tenure for an employee to ask for a bonus in a firm?
2. If an employee is already receiving incentives monthly, can they still ask for a bonus? In my opinion, for example, if the maximum capacity is set at 440 files per month and they are paid for any extra files completed at a rate of Rs. x, added to their salary and travel allowance, how can they also request a yearly bonus?
The issue is that we are a new business, not yet profitable for several months, with no ongoing projects. Even though they were idle, I have still paid them the committed salary.
When an employee's work is unsatisfactory, what steps can be taken?
From India, Mumbai
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11. Three employees are asking for a bonus. They joined only in June, and they are not yet prompt in their work. I have had to pay a penalty to our client many times for their poor work. Now, they are asking for a Diwali bonus from me.
2. In another case, two employees who work quite well agreed with me that if they reach maximum capacity and complete any additional files, they will receive separate pay. Now they are also asking for their bonus.
My questions are:
1. What is the minimum tenure for an employee to ask for a bonus in a firm?
2. If an employee is already receiving incentives monthly, can they still ask for a bonus? In my opinion, for example, if the maximum capacity is set at 440 files per month and they are paid for any extra files completed at a rate of Rs. x, added to their salary and travel allowance, how can they also request a yearly bonus?
The issue is that we are a new business, not yet profitable for several months, with no ongoing projects. Even though they were idle, I have still paid them the committed salary.
When an employee's work is unsatisfactory, what steps can be taken?
From India, Mumbai
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Some specific details are required:
1. Date of starting of the firm.
2. Date of joining of the employees.
3. Has the company made a profit in the last financial year, i.e., the period ending March 31, 2013?
Providing this information will assist other members in responding to your query.
Regards,
Preetam Deshpande
From India, Mumbai
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1. Date of starting of the firm.
2. Date of joining of the employees.
3. Has the company made a profit in the last financial year, i.e., the period ending March 31, 2013?
Providing this information will assist other members in responding to your query.
Regards,
Preetam Deshpande
From India, Mumbai
Acknowledge(0)Amend(0)
Understanding Bonus Regulations in Private Limited Firms
In every private limited firm, owners face similar problems. In such cases, it is essential to adhere to the rules and regulations outlined in the company act regarding bonuses. Following the company act law might be beneficial for you.
Regards
From United States, Los Angeles
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In every private limited firm, owners face similar problems. In such cases, it is essential to adhere to the rules and regulations outlined in the company act regarding bonuses. Following the company act law might be beneficial for you.
Regards
From United States, Los Angeles
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