Bonus to employee
This query is : Resolved
09 November 2012
Sir,
Can anyone help to know whether an employee can claim Bonus even if he/she leaves the company?
Pl reply soon.
Regards
P Dandekar
Can anyone help to know whether an employee can claim Bonus even if he/she leaves the company?
Pl reply soon.
Regards
P Dandekar
10 November 2012
DEAR SIR ,
AS PER BONUS PAYMENT ACT 1965 THE BONUS CAN BE PAID TILL 8 MONTHS FROM THE END OF THE FINANCIAL YEAR .... EXTENSIBLE TO 2YEARS .... SO SUPPOSE MR A HAS BEEN WORKING IN F.Y.2012 -13 IN THE COMPANY BUT HE HAS LEFT THE COMPANY ON 01.04.2012 . IN THAT CASE HE CAN CLAIM THE BONUS IF IT IS DECLARED .... BONUS DECLARED BEFORE THE LEAVING OF THE COMPANY IS BEEN ALLOWED TO BE GIVEN ....
AS PER BONUS PAYMENT ACT 1965 THE BONUS CAN BE PAID TILL 8 MONTHS FROM THE END OF THE FINANCIAL YEAR .... EXTENSIBLE TO 2YEARS .... SO SUPPOSE MR A HAS BEEN WORKING IN F.Y.2012 -13 IN THE COMPANY BUT HE HAS LEFT THE COMPANY ON 01.04.2012 . IN THAT CASE HE CAN CLAIM THE BONUS IF IT IS DECLARED .... BONUS DECLARED BEFORE THE LEAVING OF THE COMPANY IS BEEN ALLOWED TO BE GIVEN ....
12 November 2012
The employee is working in a small size pvt ltd co reg under company act.
Though the company do not compliance to the Bonus Act strictly Yet the bonus is given to the employees every yr.
One of the employee worked in the co for 7 yrs He resigned the company on september 30 2012. Can he not claim for the bonus( FY 2011-2012) ? Is this not the liability of the company to pay bonus of the last yr or just b'cause he resigned they refuse to pay him.
He has accordingly requested the company for the same but the company has not replied as yet.
If the company do not pay the Bonus what should be done.
Pl reply .
Regards
Pdandekar
Though the company do not compliance to the Bonus Act strictly Yet the bonus is given to the employees every yr.
One of the employee worked in the co for 7 yrs He resigned the company on september 30 2012. Can he not claim for the bonus( FY 2011-2012) ? Is this not the liability of the company to pay bonus of the last yr or just b'cause he resigned they refuse to pay him.
He has accordingly requested the company for the same but the company has not replied as yet.
If the company do not pay the Bonus what should be done.
Pl reply .
Regards
Pdandekar
15 November 2012
Dear sir ,
As because it does not come under bonus act 1965 therefore , the provisions of bonus act is not applicable .... therefor e the company may or maynot pay the bonus .....
However as per income tax act 1961 it has been stated that if the company makes the provision then no deduction under income tax be done .....if the bonus is not paid .... So if the amount of the bonus of the retrenched employee is being included in the provisions then in that case no deduction will be allowed if the payment is not being made to the retrenched employee ............
As because it does not come under bonus act 1965 therefore , the provisions of bonus act is not applicable .... therefor e the company may or maynot pay the bonus .....
However as per income tax act 1961 it has been stated that if the company makes the provision then no deduction under income tax be done .....if the bonus is not paid .... So if the amount of the bonus of the retrenched employee is being included in the provisions then in that case no deduction will be allowed if the payment is not being made to the retrenched employee ............
You need to be the querist or approved CAclub expert to take part in this query .
Click here to login now
Click here to login now
Similar Resolved Queries
Unanswered Queries
- Showing Gift from relative in ITR for this year
- ITR selection for salaries and capital gain less than L
- ITR filing- non tax audit cases- Asstt.Year 2026-2027
- Soyabean hsn code and gst rate
- Treatment of Pension ?annuity returns on PMVY
- NON- SUBMISSION OF LLP FORM 3
- Last year TDS Claim
- Regarding IMS Mandatory from 1st July 2026
- Free lancer income
- What is provisional receipt number for generation of form 16A
- BIS Certificates
- RNOR Status but Investments more than Income
- Scrutiny assessments u/s 143(2) for AY 25-26
- GSTR-4 Annual Return ! Pending Returns for F.Y. 20-21 to 22-23
- Share accounting-->fifo - capital gain - period as per fifo?
- Gst invoice numbering and delivery challan numbering
- Standard Deduction claim for EPFO Pension and ICICI Prudential Life Annuity
- Small dealers gst returns filing
- Sales amount in Gstr1
- CG after sale of flat
Trending Online Classes
-
DT & Audit (Exam Oriented Fastrack Batch) - For May 26 Exams and onwards Full English
CA Bhanwar Borana & CA Shubham Keswani
Subscribe to Pro
Join an elite circle of professionals
CAclubindia
