Gujarat circular on payment of bonus
The Government of Gujarat has issued a circular regarding the timely payment of bonuses for the financial year 2023-24.
Employees earning a monthly salary of INR 21,000 or less are entitled to a bonus.
The minimum payable bonus is 8.33% of their annual salary, which can be increased up to 20% based on the establishment’s profitability.
All industrial and commercial establishments are required to disburse bonuses for 2023-24.
The Employers are required to submit bonus payment reports to the Labour Department by 10th October 2024.