Truth Behind - Diwali Bonus to the Employees - Must read
Initially in India, salary to the employees to be paid on a weekly basis. So they received 52 salaries in a year. But when British started ruling India they came up with concept of Monthly salary which meant you were getting paid for 48 weeks only.
So if we have 4 weeks in a month, 13 salaries should have been distributed but as per a monthly salary structure introduced by British they were giving only 12 salaries in a year.
When people realized that this was a loss to them in terms of one salary many protest rallies were organised in India during 1930-1940.
The British then came up with a solution to this problem. After discussion with labour leaders about how to distribute this 13th month salary and they decided Diwali being the biggest festival of India at that time, they would distribute this 13th month salary durring Diwali.
" Today this is called the Diwali Bonus "
This was implemented from 30th June 1940.
Many don't know the history behind the Diwali Bonus and this is our right to get the 13th month salary as diwali bonus. But now a days many MNC'S and local companies are distributing dry fruits, sweets or chocolates and some companies even do not distribute or give anything to their employees.
AS per the government rules a company should pay minimum of 8.33% to maximum of 20% on their basic salary. This is the truth but many of us don't know the real reason behind the Diwali Bonus and even higher officials in a company too don't know about this rule.