The Gujarat Labour Department has issued an important circular regarding the timely payment of bonuses for the financial year 2023-24. This notification emphasizes the need for employers to comply with the Payment of Bonus Act, 1965, which mandates bonus payments to eligible employees.

Key Points:

1. Bonus Payment Deadline:
   All industrial and commercial establishments must begin disbursing bonuses for 2023-24. Employers are required to submit bonus payment reports to the Labour Department by 10th October 2024.
2. Eligibility:
   Employees earning a monthly salary of ₹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.
3. Submission of Data:
   Establishments must submit their bonus data in Excel format via email to asc-bgact-labour@gujarat.gov.in. This data includes the number of employees who received bonuses and the total amount disbursed.
4. Dispute Resolution:
   In case of disputes regarding bonus amounts, employers are advised to contact the labour commissioner for prompt resolution.
5. Compliance:
   Non-compliance with these guidelines can result in penalties and legal action. It’s crucial for employers to maintain transparency and adhere to the timelines set by the department.

Conclusion:

The 2023-24 circular aims to ensure that all eligible employees receive their bonuses in a timely and compliant manner. Employers must act swiftly to avoid penalties and ensure a smooth bonus disbursement process.