on bonus Act
laxminarayana.a
(Querist) 06 November 2008
This query is : Resolved
Dear sir some of our employees, worked some months, left the jobs during bonus year.Ist April`07-march`08.we have not paid bonus, to them. what are the remedial measures available to the them. what are consequences we have to face from their end. and 2nd. some of the left employees addresses and where about is not available, how the bonus to be paid. 3rd. where we can can keep the unpaid bonus and where that amount will be credited. reply pl. thanks & Regards: aln. aln.20007@gmail.com
Prakash Yedhula
(Expert) 15 November 2008
It is always desirable to maintain an "Unclaimed Bonus Account" for disbursing bonus to those who had left the organisation. Official letters intimating the employees to collect he bonus shall be sent.I think, declared bonus should be claimed within 18 months of closure of company's accounts. But it may not be possible to rule on dates or even law of limitation.
laxminarayana.a
(Querist) 16 November 2008
Thanks you a lot on your early reply.
With Thanks & Regards:
Laxminarayana
Hyderabad.
Andhra Pradesh.
