I am currently working as a temporary recruiter in an IT company for the last year. In September 2013, the company provided a bonus to all permanent employees but not to people on contract. It's only today that I came to know about the benefits contract employees can receive after reading CiteHR.
My Queries
1. Can I still claim the bonus for 2013, or am I late to claim it? This is a US-based company, and in the US, the financial year ends on December 31, 2013, unlike in India, where it is March 31, 2013.
Please advise.
Thanks,
J Jacob
From United States, Chicago
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My Queries
1. Can I still claim the bonus for 2013, or am I late to claim it? This is a US-based company, and in the US, the financial year ends on December 31, 2013, unlike in India, where it is March 31, 2013.
Please advise.
Thanks,
J Jacob
From United States, Chicago
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Dear Jacob, As per The Payment Bonus Act, every employee are entitle for bonus who have completed 30 days in a organisation. Yes you can claim for the previous period also..
From India, New Delhi
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71From India, New Delhi
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I hope you also realize that a bonus under the Payment of Bonus Act is subject to two important considerations:
1. The act does not apply to any employee with a salary of Rs. 10,000 and above.
2. The maximum salary on which the bonus will be computed is Rs. 3,500 per month. So if you are getting the minimum bonus, it will be Rs. 3,500 only. If you get the maximum bonus, you will receive Rs. 8,400.
So, you need to be sure that you wish to take up and fight against your employer for an amount of Rs. 3,500?
From India, Mumbai
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1. The act does not apply to any employee with a salary of Rs. 10,000 and above.
2. The maximum salary on which the bonus will be computed is Rs. 3,500 per month. So if you are getting the minimum bonus, it will be Rs. 3,500 only. If you get the maximum bonus, you will receive Rs. 8,400.
So, you need to be sure that you wish to take up and fight against your employer for an amount of Rs. 3,500?
From India, Mumbai
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Amendment to Payment of Bonus Act 2015.jpg
Bigger bonuses for more as Lok Sabha amends Payment of Bonus Act - The Economic Times.pdf
THE PAYMENT OF BONUS ACT.doc