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manishvansh1 (n/a)     18 June 2009

monthly bonus

Dear Seniors,

 

Plz any one tell me that can we disburse Bonus on monthaly  Basis. if no why ?



Thanks

Manish 



 5 Replies

A V Vishal (Advocate)     18 June 2009

Manish,

Bonus is a yearly payment and not a monthly payment since it is paid out from the profits earned by the employer during an accounting year which is prescribed as beginning with the first day of April and ending on the 31st day of Succeeding March, refer to S. 4, 5, 6, 7 & 8 of the Payment of Bonus Act to understand the true intention of the legislation.

manishvansh1 (n/a)     19 June 2009

thanks sir,

 

 

manish

H. S. Thukral (Lawyer)     19 June 2009

Interim Bonus can be paid whether monthly /half yearly or otherwise on any fesitval. The employer can deduct the bonus so paid from the bonus actually payable after the end of accounting year. ( Section 17 of the  PBA

Saravana Rajan   23 June 2009

Can you pls clarify if this query relates to statutory bonus or other form of bonus?

-Saravana Raja.

manishvansh1 (n/a)     26 June 2009

sir,

thisquary relates to statutory bonus


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