Difference Between Bonus And Ex Gratia
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Dear Chandran,I agree with you that ex gratia, which is paid by the employer of his own volition to specific employees as an individual contract, either written or implied, cannot be claimed by other employees. This is mostly true of the private sector.B. Saikum...
Dear Mr. Sai Kumar,As you say, any payment, including ex-gratia, if covered under an agreement, is definitely payable. However, there are payments employers make to certain employees outside written agreements and at the sole discretion of the employer, for vari...
Bonus may be under the payment of Bonus Act, or it may be paid as a share in the profits. Bonus may also be paid as an incentive for performance or productivity and is often paid under an agreement, settlement, or award upon fulfilling eligibility norms. Ex-grat...
Bonus comes under the regulation of the Bonus Act, which you can find on Google. Ex-gratia is a concept to provide an extra amount for senior employees who are not eligible to receive a bonus as per the various provisions of the Bonus Act amended by the governme...
Bonus refers to the statutory payment to be made to employees as per the Payment of Bonus Act, whereas Ex-Gratia is: (i) an additional bonus paid to those who are entitled to a bonus and (ii) payment in lieu of a bonus made to those employees who are not entitle...
Bonus under the Payment of Bonus Act will be paid as per the eligibility criteria of the employee, and the amount (%) of the bonus depends on the Allocable Surplus of the Company. In some cases, companies may link it to the production of the Company, which is ca...
Dear Chandran,I am afraid it is not true that a bonus can only be claimed under the law and not ex-gratia. If ex-gratia is paid pursuant to a settlement or agreement, it too can be claimed in the appropriate forum. Even if it is not given under an agreement but ...
Dear friend,A bonus is an annual payment that must be paid compulsorily to all eligible employees as per the Bonus Act. Ex-gratia is a payment that can be made by an employer to any employee, whether they are eligible for a bonus or not, at the employer's sole d...
@phanikumar_d66:> Bonus under the Payment of Bonus Act will be paid as per the eligibility criteria of the employee, and the amount (%) of bonus depends on the allocable surplus of the company. In some cases, companies may link it to the production of the compan...
Hi Friends,I want to know what the difference is between Bonus and Ex-Gratia.Regards,Rajiv