Hello Sir,
I wanted to know that if an employee resigns from the orgn. then is payable to him for the previous year. e.g. An employee joins in April 2007 & resigns in Sept.08 then bonus for the year 2008-09 is payable to him or not? Also considering that he draws a salary with basic below 10000. How much amount to be payable to him?
Please guide
Regards
Manisha
From India, Pune
1I wanted to know that if an employee resigns from the orgn. then is payable to him for the previous year. e.g. An employee joins in April 2007 & resigns in Sept.08 then bonus for the year 2008-09 is payable to him or not? Also considering that he draws a salary with basic below 10000. How much amount to be payable to him?
Please guide
Regards
Manisha
From India, Pune
Any employee who has worked at least for 30 days in the financial year and whose qualifying salary (Basic + DA) does not increase Rs 10000 is eligible for bonus at the rate agreed upon in this respect. Bonus of all employees whose salary is in between Rs 3500 and Rs 10000 will, however, be calculated as if the salary is Rs 3500 only.
An employee who left service and who qualifies the above is entitled to get bonus. The rate of bonus will be the same as applicable to other employees and it may vary from 8.33% to 20%.
Regards,
Madhu.T.K
From India, Kannur
An employee who left service and who qualifies the above is entitled to get bonus. The rate of bonus will be the same as applicable to other employees and it may vary from 8.33% to 20%.
Regards,
Madhu.T.K
From India, Kannur
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