IMPHAL, Oct 10: The deputy Labour Commissioner has instructed all employers to pay annual bonus in cash within eight months from the close of the accounting year to employees for not less than 30 working days in the accounting year in every factory and other establishment.
According to the official statement of the commissioner payment of the annual bonus in cash is provided by the Payment of Bonus act, 1965.
The employers of factories and other establishments are informed to make the payment of the bonus for the year 2013-14 before the ensuing festivals of Diwali and Nigolchakouba of this year.
It said the establishments include societies, newspaper establishments, automobile workshops, workshop or establishment in articles are produced, adapted or manufactured with a view to their use, transport or sale, private hospitals, nursing home or clinics, private educational institutes, establishments of contractors, establishments of insurance providers, telecommunication providers, banks, financial institutions, hotels, restaurants, motor transport undertaking, shops, etc in which 10 or more persons are employed on any day during the period from April 1, 1982.
It has also said the minimum bonus should be 8.33 percent of the salary or wages earned by the employee during the year or Rs 100 whichever is higher, whereas the maximum bosus should be upto 20 percent of the salary or wages earned.
A return in form D on the payment of the bonus should be submitted to the inspector concerned within December 2014, it continued.