Dear sir,
My name is Vaithiyanathan, and I have been working in an MNC company for the last 2 years. I have a doubt regarding Diwali bonus calculation. They have not given me the bonus because I took 21 days of leave this year.
The company's Admin person calculated the leave from October 2014 to November 2015. Is it possible for them to calculate it this way? Could you please clarify if leave is only calculated on a financial year basis for the bonus?
Thank you.
From India, Chennai
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My name is Vaithiyanathan, and I have been working in an MNC company for the last 2 years. I have a doubt regarding Diwali bonus calculation. They have not given me the bonus because I took 21 days of leave this year.
The company's Admin person calculated the leave from October 2014 to November 2015. Is it possible for them to calculate it this way? Could you please clarify if leave is only calculated on a financial year basis for the bonus?
Thank you.
From India, Chennai
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The bonus will be calculated on the Indian Financial Year, i.e., April to March. In your case, they have calculated from April '14 to Mar '15, and the same has been paid at the time of Diwali.
The bonus will be calculated on earned (Basic + DA), so your leaves, LOPs, etc., have nothing to do with bonus calculation.
From India, Hyderabad
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4The bonus will be calculated on earned (Basic + DA), so your leaves, LOPs, etc., have nothing to do with bonus calculation.
From India, Hyderabad
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Hi Mr. Vaithi,
Every employee is entitled to receive a bonus from the employer in an accounting year as per the provisions of the Bonus Act of 1965, provided that he/she has worked for not less than 30 days in that year. If your employer is avoiding providing a bonus to you on the pretext of you taking 21 days of leave, it is a violation of the rule. If you have worked for more than 30 days in the year, you are eligible to receive a bonus.
With Regards,
Mr. Thumbs Up
From India, Chennai
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Every employee is entitled to receive a bonus from the employer in an accounting year as per the provisions of the Bonus Act of 1965, provided that he/she has worked for not less than 30 days in that year. If your employer is avoiding providing a bonus to you on the pretext of you taking 21 days of leave, it is a violation of the rule. If you have worked for more than 30 days in the year, you are eligible to receive a bonus.
With Regards,
Mr. Thumbs Up
From India, Chennai
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Bonus Calculation.xls
BONUS CALCULATION RULE (1).pdf