Unpaid Bonus
This query is : Resolved
Harsh Raiyani
(Querist)
23 October 2007
What treatment do we need to follow for unpaid bonus (for employees resigning during the year).
Do we need to transfer the sum to 'Employee Welfare Fund' ?
Do we need to transfer the sum to 'Employee Welfare Fund' ?
S.RAVICHANDRAN
(Expert)
25 October 2007
Steps should be taken to send the bonus by postal to the ex employee. If sufficient proof is there that the employee is not traceable, then that bonus should be transferred to Unclaimed Bonus Account and maintained as such for seven years.
Then the amount should be transferred to Government's General Fund Account.
Then the amount should be transferred to Government's General Fund Account.
kumar arumugam
(Expert)
01 November 2007
i agree with mr.ravichandran's view.
kumar arumugam
(Expert)
01 November 2007
i agree with mr.ravichandran's view.
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