Page 6 - Bonus Payouts

Centre grants 30-day non-productivity linked bonus to employees for FY23

Finance ministry sets monthly emolument ceiling at Rs 7,000 for ad-hoc bonus calculation

Telangana govt announces 32% of SCCL's profits as bonus for coal workers

The Singareni Collieries Company Limited (SCCL) is a government coal mining company jointly owned by the Government of Telangana and the Government of India on a 51:49 equity basis, respectively

Railways union demands productivity bonus on basis of 7th pay commission

Indian Railway Employees Federation (IREF) has written to the railways demanding an enhancement in the productivity-linked bonus (PLB) that the workers get every year ahead of the festive season. The railways pay PLB, which is equivalent to 78 days' wages, to all non-gazetted employees (Group C and Group D) as an incentive to increase productivity and ensure safety. The PLB is calculated on the basis of the minimum salary paid to the lowest grade (Group D) employees. The IREF has argued that though the railways implemented the recommendations of the 7th Pay Commission on January 1, 2016, yet the PLB has still been calculated and paid based on the minimum salary fixed by the 6th Pay Commission. The minimum salary paid to Group D employees in the 6th Pay Commission was only Rs 7000 while it was enhanced to Rs 18,000 in the 7th Pay Commission. According to the Federation, all employees of Group C and Group D get only Rs 17,951 which is calculated on the basis of Rs 7000 as the minimum

HDFC Life declares highest ever bonus of Rs 3,660 cr on participating plans

2.31 million policyholders are eligible for this bonus

Air India revamps pay structure of pilots, crew; announces reward, bonus

The new structure also includes revised pay scales across all levels and will come into effect from April 1, 2023

65% from 85%: Bonus slashed for Meta Platforms staff, says report

Meta gave thousands of employees subpar ratings in its most recent round of performance reviews, WSJ reported

Disclosure gains

Sebi's proposals on listing norms would aid transparency

Cabinet approves payment of productivity linked bonus to railway employees

In what can be termed as a Diwali bonanza for lakhs of railway employees, the Union Cabinet approved payment of productivity linked bonus equivalent to 78 days to them for financial year 2021-22

Twitter tells employees bonuses could halve, based on performance: Report

Challenges for Twitter include advertisers' uncertainty related to the Ukraine war and a legal dispute with Elon Musk over his plan to abandon his $44 billion purchase

Investment bankers ride on record IPOs in FY22 to mint bumper pay

Bonuses in FY22 ranged from 100 to 200% of annual pay

Google to give all employees additional bonus of $1,600 this year

The latest benefit is in addition to Google's work-from-home allowance and well-being bonus

Union Steel Minister announces bonus, wage revision for MOIL employees

Union Minister of Steel Ram Chandra Prasad Singh on Sunday announced a bonus of Rs 28,000 as well as wage revision for the employees of the state-owned Manganese Ore India Limited (MOIL). Singh was addressing a gathering at the inauguration 2nd Vertical Shaft, Chikla Mine and various other facilities of the company based at Nagpur in Maharashtra. He announced a production-linked bonus of Rs 28,000 for all the MOIL employees, which will be paid before the upcoming Diwali festival. The wage revision is for 10 years, with effect from August 1, 2018 to July 31, 2027, and will benefit around 5,800 employees of the company, it said in a release. It is based on an MoU arrived between the company's management and the MOIL Kamgar Sanghatan, a recognised union of its employees. The proposal includes fitment benefit of 20 per cent and perks /allowances at the rate of 20 per cent, the release said. An interim relief at 12 per cent of the basic and dearness allowance (DA) was given by the co

Government sanctions ad hoc bonus to employees for fiscal 2021

Employees who were in service as on March 31, 2021, and have rendered at least six months of continuous service during 2020-21 fiscal year would be eligible for this ad hoc bonus.

Cabinet approves bonus equal to 78 days' wage for 1.1 mn railway employees

An expenditure of nearly Rs 1,985 crore will be incurred on this.

Return of the fat cats? Europe's bank bonuses rise as profits rebound

Banks have added billions of dollars to bonus pools as they try to reassure restless staff they will be rewarded in 2021 after a lean 2020.

Microsoft announces gift: All employees to get $1,500 as pandemic bonus

Microsoft is giving all its employees over $1,500 pandemic bonus, in recognition of a challenging fiscal year that the tech giant just completed

ICICI Pru announces Rs 867 cr annual bonus for participating policyholders

Around 980,000 customers are likely to benefit from this bonus

Tide Water Oil zooms 20% on stock split, bonus issue plan

Earlier in March 2016, the company had issued bonus shares in the ratio of 1:1 i.e. one bonus share for every share held in the company

AMC staffers set for bonus boost as industry manages to grow asset base

Bonuses for FY21 may be 20-30% of annual pay; yearly increment can be in high single digits

PwC India announces special bonus for all employees

Audit firm PwC India on Thursday announced a special one-time bonus for all its 1,500 employees