Respected Seniors,
Kindly solve my below-mentioned queries:
1. Who are piece-rate employees, and how are they given a bonus?
Piece-rate employees are those who are paid based on the amount of work they complete, rather than a fixed salary. Bonuses for these employees are typically calculated based on their output or productivity levels.
2. How are seasonal employees given a bonus?
Seasonal employees, who work only during certain times of the year, may receive bonuses based on the duration of their employment or the specific terms outlined in their employment contract.
3. Section 13 - Proportionate Reduction in Bonus in Certain Cases
Where an employee has not worked for all the working days in an accounting year, the minimum bonus of 100 or 60, if such bonus is higher than 8.33% of his salary or wage for the days he has worked in that accounting year, shall be proportionately reduced.
4. Agreement or Settlement on Bonus Linked with Production or Productivity
If there is an agreement or settlement between the employer and employee regarding the payment of a bonus linked with production or productivity, employees can be given a bonus higher than 20%.
5. What is Ex-gratia?
Ex-gratia is a payment made by an employer to an employee that is not required by a contract or law, often given as a goodwill gesture.
Regards,
Vikas
From India, Calcutta
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6Kindly solve my below-mentioned queries:
1. Who are piece-rate employees, and how are they given a bonus?
Piece-rate employees are those who are paid based on the amount of work they complete, rather than a fixed salary. Bonuses for these employees are typically calculated based on their output or productivity levels.
2. How are seasonal employees given a bonus?
Seasonal employees, who work only during certain times of the year, may receive bonuses based on the duration of their employment or the specific terms outlined in their employment contract.
3. Section 13 - Proportionate Reduction in Bonus in Certain Cases
Where an employee has not worked for all the working days in an accounting year, the minimum bonus of 100 or 60, if such bonus is higher than 8.33% of his salary or wage for the days he has worked in that accounting year, shall be proportionately reduced.
4. Agreement or Settlement on Bonus Linked with Production or Productivity
If there is an agreement or settlement between the employer and employee regarding the payment of a bonus linked with production or productivity, employees can be given a bonus higher than 20%.
5. What is Ex-gratia?
Ex-gratia is a payment made by an employer to an employee that is not required by a contract or law, often given as a goodwill gesture.
Regards,
Vikas
From India, Calcutta
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I have a few more queries:
1. What is a customary bonus?
2. What is a Puja Bonus?
3. What is an incentive bonus?
4. What is a contractual bonus?
And what's the difference between all these and the statutory bonus paid...
Regards,
Vikas
From India, Calcutta
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1. What is a customary bonus?
2. What is a Puja Bonus?
3. What is an incentive bonus?
4. What is a contractual bonus?
And what's the difference between all these and the statutory bonus paid...
Regards,
Vikas
From India, Calcutta
Acknowledge(0)Amend(0)
India is a free country, and any factory, establishment, or unit may start paying their employees any new type of incentive as part of wages and may call it a puja bonus, attendance bonus, or customary bonus, etc. The payments of such amounts may differ from industry to industry and place to place. As far as I understand, such types of wages or bonuses are nowhere mentioned in the Payment of Bonus Act, 1965.
Review of the Payment of Bonus Act, 1965
I request you to please review the provisions of the Payment of Bonus Act, 1965. If you have any doubts or face any difficulties in applying such laws, please mention your doubts by referencing the relevant rules/sections.
Regards
From India, Noida
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Review of the Payment of Bonus Act, 1965
I request you to please review the provisions of the Payment of Bonus Act, 1965. If you have any doubts or face any difficulties in applying such laws, please mention your doubts by referencing the relevant rules/sections.
Regards
From India, Noida
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