Bonus

what is bonus law in pvt ltd  pharma company.

I have worked more then 30 month but no bonus received.

company is 3 years old company.

pl suggest .

@ Mr. Srivastava,

Section: 2(13), 8: Every employee who is drawing a salary or wage upto Rs. 10000.00 per month (w.e.f. 1-4-2006) and who has worked for minimum period of 30 days in a year is entitled to be paid bonus.

Therefore, if……………. even a seasonal worker………………. has worked in an establishment for more that thirty working days, he shall be entitled to get bonus.

Mr. Mukherjee,

The statutory bonus as per 

THE PAYMENT OF BONUS ACT, 1965; 

should be paid within 8 month from close of accounting year i.e. 30th Nov or employer can be penalized.

The Act is applicable to even managers.

Hope you are referring to the Bonus as per this act only. 

You may also check on: Customary bonus, Attendance bonus.....................

If employer has inserted payment of bonus in annual pay package/CTC offered to you, you are eligible., even if you are not covered by following provisions in the Act.

>>> Section 16: The newly set up establishment is exempted from paying bonus to its employees in the first five years following the year in which the employer sells the goods produced or manufactured by him. If, however, the employer derives profit in any of the first five year, he has to pay bonus for that year. The provisions of set on and set off are not applicable in such cases.

>>> Sec: 2. Definitions.: (21) "salary or wage" means all remuneration (other than remuneration in respect of overtime work) capable of being expressed in terms of money, which would, if the terms of employment, express or implied, were fulfilled, be payable to an employee in respect of his employment or of work done in such employment……………………………

Section: 2(13), 8: Every employee who is drawing a salary or wage upto Rs. 10000.00 per month (w.e.f. 1-4-2006) and who has worked for minimum period of 30 days in a year is entitled to be paid bonus.

You may also go thru: Section 2(21)