Labour and Employment Ministry introduces annual bonus for ₹21,000-or-less workers
If you're making ₹21,000 or less per month and have worked at least 30 days in the year, you're now eligible for an annual bonus, thanks to a new move by the Ministry of Labour and Employment.
The bonus can be anywhere from 8.33% up to 20% of your wages.
Heads up though: if you earn above ₹21,000 per month, this doesn't apply.
Bonus baseline ₹7,000 or minimum wage
Your bonus is based on either ₹7,000 or your area's minimum wage, whichever is higher, even if you actually earn more.
Employers have 8 months after the accounting year ends to pay up (sometimes up to 2 years).
If they drag their feet, they could face fines up to ₹50,000 or even jail time for repeat offenses.
In case there's any dispute about the amount, companies still have to pay out the minimum part on time while sorting things out.