The Payment of Bonus Act 1965 in Tamil | Available & Allocable surplus | Last Bench Professor
Channel: Last Bench Professor
Date: 2022-12-21

When the company need to pay the bonus
• From the date of closing of financial year within 8th month bonus need to be paid. 
• March 31 is the closing the 8 the month is November. Bonus is given in November not because Deepavali but because of that month is bonus timeline govt fixed
Content – 13 – Bonus Percentage

Bonus percentage is minimum 8.33 % to maximum 20 % of an employees Basic + Dear Allowance. 
• Minimum 30 days an employee worked for the eligibility
• Even worked only for 30 working days and resigned still employee is eligible for bonus
• Within 8th month of the financial year closing bonus must be paid. March to November.              

Bonus ‘Set on’ & ‘set off’
• The employees bonus paid 20% each the surplus bonus amount carried forward succeeding year called ‘seton’
• The withhold amount from previous year released called’ set off’
• Ex-gratia can be given any number of time.

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