The Bonus Dilemma Jon Jacobs INTRODUCTION As bonus time looms‚ the financial services industry around the world faces an unprecedented situation of government financial participation and intense political scrutiny. Both 2008 compensation and the pay paradigm for future years are being reshaped under this spotlight. This White Paper focuses on public relations aspects of the dilemma confronting U.S. investment banks over reformulating compensation – both near-term and long-term‚ from the C-suite
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The Bonus Army In 1924‚ a grateful Congress voted to give a bonus to World War I veterans‚ $1.25 for each day served overseas‚ and $1.00 for each day served in the States. (Bartlett) However the payment would not be made until 1945. Unfortunately‚ by 1932 the nation had become engulfed into the Depression and the unemployed veterans obviously wanted their money immediately so that they could support their families. Nearly one-third of working Americans were unemployed and desperate for relief
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The Payment of Bonus Act‚ 1965 The Payment of Bonus Act‚ 1965 (Act No. 21 of 1965) is an important law on the topic of wages and bonus. It has 40 sections and 4 schedules. Background * Article 43 of Constitution of India under the Directive Principles of State Policy expects ’Living Wages’ for all workers * Bonus helps in two manners: * Increases employee wages so that they are closer to ’living wages’ * Employee efforts are recognized and this encourages work more - earn
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Bonus to the employees Introduction The scenario is thus expounded as how to distribute the bonus to the employees who are present in the ample amount. The process of parceling out the bonus to the several employees had thus become a major issue. It has thus become a question because the employees receiving pronominal bonuses from the company thus feel rather crest fallen and the others receiving higher amount feel motivated to proceed out with the good work again to have more bonuses next time
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THE PAYMENT OF BONUS ACT‚ 1965 ACT NO. 21 OF 1965 [25th September‚ 1965.] 1*[An Act to provide for the payment of bonus to persons employed in certain establishments on the basis of profits or on the basis of production or productivity and for matters connected therewith.] BE it enacted by Parliament in the Sixteenth Year of the Republic of India as follows:-1. Short title extent and application. 1. Short title extent and application.- (1) This Act may be called the Payment of Bonus Act‚ 1965. (2)
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AGREEMENT OFFICER ACCESSION BONUS ADDENDUM ACKNOWLEDGMENT In connection with my appointment as an officer and agreement to serve with the Army National Guard of the United States under the Selected Reserve Incentive Program‚ I hereby acknowledge that: 1. I meet the eligibility criteria‚ as follows: a. I agree to accept an appointment as an officer in the armed forces to serve in the Selected Reserve in a critical officer skill that is designated for bonus entitlement by the Secretary
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Bonus meaning: Something given or paid in addition to what is usual or expected. a. A sum of money or an equivalent given to an employee in addition to the employee’s usual compensation. b. A sum of money in addition to salary that is given to a professional athlete for signing up with a team. Definition of ’Bonus’ 1. Additional compensation given to an employee above his/her normal wage. A bonus can be used as a reward for achieving specific goals set by the company‚ or for dedication to
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St. SEBI GUIDELINES FOR BONUS ISSUE SEBI is playing a vital role in regulating capital markets. Offer Documents / Prospectus for almost all types of issues are sent to SEBI for their comments. SEBI has framed guidelines for all types of issues including Bonus Issue. In case of Bonus Issue‚ there is no offer document as there is no involvement of any consideration. No funds are coming into the corpus of the company. Therefore‚ companies are required to just follow the guidelines issued by SEBI
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receive a $1‚000 bonus for their victory in the war by the year 1945. But in 1932‚ those veterans decided that they wanted their bonuses early due to the financial troubles that were arising. Hoover rejected their appeal because he was concerned with balancing the budget. The federal government also didn’t have the money; they were broke too at the time because of the Great Depression. In response‚ in June‚ over 20‚000 veterans who called themselves the “Bonus Army” (or the “Bonus Expeditionary Force”)
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promised certificates. They believed if Congress understood their economical situation‚ then authorization of immediate payment would occur. However‚ as we would learn‚ that was not simply the case and this assembly of marchers‚ better known as “The Bonus Army”‚ our very own veterans were brutally driven away by our Army. According to an online timeline‚ “the incident marked one of the greatest periods of unrest our nation’s capital had ever known.” … an event‚ that in my opinion‚ could have been avoided
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