COLOMBO (NewsRadio); The Treasury has issued two circulars regarding the payment of annual bonus to employees of commercial corporations, statutory boards state-owned companies for the year 2022.
According to one of the circulars, the payment of bonus to employees of commercial corporations, statutory boards and state-owned companies for the year 2022 should be no more than Rs.25,000.
The circular states that commercial corporations, statutory boards and state-owned companies that generated profits during the financial year 2021 but did not pay any incentives based on attendance, performance or any other form of incentives, can pay a bonus payment of up to maximum of Rs.25,000.
Meanwhile, corporations, statutory boards and state-owned companies that generated profits during the financial year 2021 and paid incentives based on attendance, or any other form of incentives can make a bonus payment to its employees of maximum Rs.20,000.
Meanwhile, commercial corporations, statutory boards state-owned companies that recorded a loss during the financial year 2021 are not entitled to pay bonus payments based on the profitability of the institution.
Meanwhile, a separate circular has also been issued regarding the payment of bonus to employees of state entities based on attendance.
According to the circular issued by Treasury Secretary Mahinda Siriwardana, payments can be made only if three conditions are met by the respective institutions.
