brijendrasingh 16 January 2019

Bonus

I recently joined a Limited Company which is listed in Share Market. The Compnay policy with regards to bonus is Monthly i.e. the compnay incudes the bonus in the ctc and instead of giving bonus during the diwali, the compnay included bonus in monthly salary and releases it in every salary. Please let me know if this is right or should the company give bonus i.e 8.33% once a year during diwali.

Thanks in advance

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4 Replies

Shashi Dhara 16 January 2019

It is not rights.it may give or withdraw as proceedings

Pradipta Nath (Advocate) 16 January 2019

Bonus if paid as per the Payment of Bonus Act by your Company, it is not correct to the extent it is made not out of the Company's profit or the calculation is based upon anything else in parallel to the POB Act!

Apart it seems that your Company is disbursing the bonus as a way of customs, it may adjust the paid amount against the POB Act. But certainly it cannot deprive the statutory rights of its employees!

Aside, from the minimum bonus payable of 8.33% is correct as the POB Act.