Law india bonus

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Cases where a separate balance sheet and profit and loss account are prepared and maintained in respect of any such department or branch or undertaking, then, such department or undertaking or branch shall be treated as a separate establishment for the purpose of the computation of bonus unless such department or undertaking or branch was, immediately before the commencement of that accounting year treated as part of the establishment for the purpose of computation of bonus.

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Guidance on Payment of Bonus Act, 1965 R/w Payment of Bonus Rules, 1975 b. For calculation of bonus, the departments and branches, having separate balance sheets, are to be treated independently; India Tourism Development Corporation, Madras v. General Secretary, All India ITDC Employees’ Union, 2011 LLR 272 (Mad. HC). Post Comment b. Every employee not drawing salary/wages beyond Rs. 21,000 per month who has worked for not less than 30 days in an accounting year, shall be eligible for bonus for a minimum of 8.33% of the salary/wages, even if there is loss in the establishment whereas a maximum of 20% of the employee’s salary/wages is payable as bonus in an accounting year. Maintenance of register Ans.

a. An ‘employee’ under the Act means any person other than apprentice, engaged for hire/reward whether the terms of employment be express or implied and includes supervisors/managerial and administrative employees drawing salary/wages not exceeding Rs. 21,000 per month. vi. any retrenchment compensation or any gratuity or other retirement benefit payable to the employee or any ex gratia payment made to him; Frequently Asked Question (FAQs) Ans. a) Every factory; and

(irrespective of the fact that he may be drawing wages more than seven thousand rupees or less than seven thousand rupees per month) 10. Compliance requirement: The employee shall be deemed to have worked in an establishment in an accounting year also on the days on which; One hundred rupees only, whichever is higher.

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