PAYMENT OF BONUS - MONTHLY

Querist : Anonymous (Querist) 20 April 2010 This query is : Resolved
Hi Expert,

I'm a HR working in a Pvt Ltd Company. I have a query regarding payment of bonus. As per our company policy, we pay bonus to employees on early basis. I wanted to know is there any provision in Payment of bonus act to pay the bonus amount on a monthly basis to the employees instead of paying it yearly basis. Kindly post your answers at the earliest which will be very helpful to me.

Regards,
Stella

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Raj Kumar Makkad (Expert) 20 April 2010
Stella! Bonus cannot be paid on monthly basis rather it is payable on yearly basis.

aman kumar (Expert) 20 April 2010
bonus is not the part of your pay ! it is payment for all wark you done full year so how can bonus pay in monthly basis ??

Querist : Anonymous (Querist) 20 April 2010
Thanks for the response. I want to have a detailed note on this bonus pay out, as we hear that if in case the company has more than 60% of allocable surplus at the beginning of the accounting year, then bonus can be paid out on a monthly basis for the current year. Is it so?

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