Hi All,
Please let me know the difference between statuary bonus and performance bonus.
As per my knowledge statuary bonus is paid to all the employees whose basic salary is less than 10K pm and minimum compulsory limit is 8.33% of basic.
Would be great if you can enlighten it more.
Regards
Urvashi
From India, Pune
Please let me know the difference between statuary bonus and performance bonus.
As per my knowledge statuary bonus is paid to all the employees whose basic salary is less than 10K pm and minimum compulsory limit is 8.33% of basic.
Would be great if you can enlighten it more.
Regards
Urvashi
From India, Pune
dear urvashi
you know about statutory bonus as explained by you is correct ,it is paid as per the payment of bonus act 1965.performance bonus is paid as per company policy based on performance ,no law applies to it.
regards
j s malik
From India, Delhi
167you know about statutory bonus as explained by you is correct ,it is paid as per the payment of bonus act 1965.performance bonus is paid as per company policy based on performance ,no law applies to it.
regards
j s malik
From India, Delhi
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Amendment to Payment of Bonus Act 2015.jpg
Bonus act amendment gazette copy.pdf
Bonus-amendment _206.doc