Appeal for payment of annual bonus to private sector employees
Source: Hueiyen News Service
Imphal, October 25 2011:
Deputy Labour Commissioner, Government of Manipur E Tomba Singh has issued a notification appealing to all the employers of shops/establishment in private sector for payment of annual bonus before the ensuing Diwali and Ningol Chakkouba festivals.
All the employers of shops/establishments, which are covered by the Payment of Bonus Act, 1965, are liable to pay annual bonus to their employees, the notification said, while pointing out that the rate of minimum bonus payable to the employees who worked on all the working days of the accounting year is an amount equal to 8.33 percent of the total amount of salaries earned by the employee and the rate of maximum bonus payable is an amount equal upto 20 percent of the total amount of salary earned by the employee during the accounting year subject to the amount available from the allocable surplus (60 percent of the gross profit).
Moreover, the rate of bonus payable to the employees who worked for at least 30 days of the accounting year is Rs 100, the notification said, and added that payment of annual bonus for the accounting year, 2010-11 is due from the month of April, 2011 for every employer of shops/establishments under Section 19 (b) of the Payment of Bonus Act, 1965 .