One of our permanent employee left the organisation in Nov - 2018. The company has declared 1/2 month CTC as bonus for Diwali 2019. Now this employee who left the company is asking for bonus. Should we pay him bonus or need not because he has left the company in Nov 2018 itself? we have paid him his dues in full and final settlement including Gratuity and Leave encashment. Please advise.
From India, Hyderabad
3From India, Hyderabad
The statutory bonus @ 8.33% of the salary earned for period from 1st April 2018 till his leaving the company should be paid as bonus to the employee left service,provided during this period he has worked for 30 days.
From India, Kannur
From India, Kannur
As per bonus act 1965 The employee who have completed 30 days in a year those employees are eligible for bonus. As per my knowledge bonus amount did not show in full and final settlement.
From India, Hyderabad
From India, Hyderabad
As rightly discussed above , if a person worked for a minimum period of 30 days in any financial year he will automatically be paid bonus as may be decided by company subject to loss of pay deductions if any . It does not matter whether the person is continuing or left the organization, if one is eligible as per Bonus Act, he has to be paid .
From India, Visakhapatnam
From India, Visakhapatnam
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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