Hi All, Is it compulsory to give bonus to employees.If there is any rule then kindly let me know. Regards Pooja
From India , Delhi
From India , Delhi
Dear Pooja,
It depends on company policies generally most of the medium sized companies have bonus policies and it varies as per employee designation...and ofcourse ur pay package..
Regards Ateeq
""Success is not a place where you reach its the quality of your journey.""
From Oman , Muscat
It depends on company policies generally most of the medium sized companies have bonus policies and it varies as per employee designation...and ofcourse ur pay package..
Regards Ateeq
""Success is not a place where you reach its the quality of your journey.""
From Oman , Muscat
Hi! Pooja it all depends on the company, if is is a newly started company than for a period of 5 years you need not pay bonus however after completion of 5 years bonus is compulsory
From India , Pune
From India , Pune
Hi everyone
i want to help from both of you
i want to list of document,Certificates,required permission, which is needful to a new opening company as per law. Please give the details in sequence like as list of doucments, list of forms, list of required permission like as factory inspector, M.P.C.B., M.S.E.B. S.S.I. registration.etc. My email id
Hope for useful reply.
Thanks in advance
Vijay wable
From India , Pune
i want to help from both of you
i want to list of document,Certificates,required permission, which is needful to a new opening company as per law. Please give the details in sequence like as list of doucments, list of forms, list of required permission like as factory inspector, M.P.C.B., M.S.E.B. S.S.I. registration.etc. My email id
Hope for useful reply.
Thanks in advance
Vijay wable
From India , Pune
Dear
Payment of Bonus is governed by the Payment of Bonus Act, 1965. It is applicable where 10 or more persons are employed during the year. Secondly infancy period is for 5 years from the date of trial production, but if during the first 5 years company's show profits, than bonus shallbe paid for that year only. After 5 years bonus is payableas per allocable surplus even if there are losses. Further if once the bonus is paid and the number of persons comes to less than 10 even than you have to pay bonus continuously. Eligibility is 30 working days is must during that accounting year. If persons join on 4 th March, he shall not be entitled for bonus for the previous accounting year. Again persons entitled for bonus must be drawing Basic+DA less than 10000/-pm
ak malhotra
From India , Guwahati
Payment of Bonus is governed by the Payment of Bonus Act, 1965. It is applicable where 10 or more persons are employed during the year. Secondly infancy period is for 5 years from the date of trial production, but if during the first 5 years company's show profits, than bonus shallbe paid for that year only. After 5 years bonus is payableas per allocable surplus even if there are losses. Further if once the bonus is paid and the number of persons comes to less than 10 even than you have to pay bonus continuously. Eligibility is 30 working days is must during that accounting year. If persons join on 4 th March, he shall not be entitled for bonus for the previous accounting year. Again persons entitled for bonus must be drawing Basic+DA less than 10000/-pm
ak malhotra
From India , Guwahati
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pay package company policies employee joining payment of bonus act bonus act bonus policy factory inspector City-India-Delhi Country-India
PAYMENT OF BONUS amendment 2007.doc