I know that as per the Bonus Act, the salary limit for a bonus is Rs. 10,000. However, my company is paying a bonus to all employees above the salary of Rs. 10,000. My query is, can a resigned employee claim the bonus in this situation? Kindly advise me, please.
From India, Hyderabad
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From India, Hyderabad
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If the separated (resigned, superannuated, or deceased) employee was entitled to a bonus, they can very well claim the pro rata bonus (proportionate to the days worked in the financial year).
Regards,
Shailesh Parikh
Vadodara, Gujarat
[Phone Number Removed For Privacy Reasons]
From India, Mumbai
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305Regards,
Shailesh Parikh
Vadodara, Gujarat
[Phone Number Removed For Privacy Reasons]
From India, Mumbai
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As per the Bonus Act of 1965, employees who work more than 30 days in the organization are eligible for a bonus. We need to pay all employees (both current and former) within 8 months from the end of the financial year. If former employees do not claim the bonus, we must keep it in the accounts for up to 7 years.
Regards,
Srinivas B
From India, Hyderabad
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Regards,
Srinivas B
From India, Hyderabad
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BONUS CALCULATION FOR W.B.Govt employee for 2010-2011.xls
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Amendment to Payment of Bonus Act 2015.jpg