I just want to know the difference between statutory bonus and annual performance bonus. For example for financial year 2014-15 bank announce performance bonus of rs.13000/- in and paid in may,2016. While bank paid statutory bonus as per government regulation on 30th November 2016 rs.18360. But after few days they recoverd rs.13000/- from my account with the reason that we have already paid bonus of rs.13000/- in may,2015 I am having query that bank paid performance bonus Is part of statutory bonus or not. If company consider performance bonus in statutory bonus than the employee who perform better during the year get the same amount as the employee who have not performed during the month. For example One employee get B rating and get 13000 bonus and one employee get C rating get nill bonus in may,2015 but in November 30,2016 both employee get the same bonus 18360/-. So is there any specified rules for payment of bonus of government of India.
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