The word ‘bonus’ itself is enough to make our eyebrows rise and definitely a smile comes on every face.It may be Diwali or Puja we all expect an yearly bonus. And no wonder we do keep some of our requirements aside awaiting this bonus to fulfill. in the corporate world this bonus is either given directly to the employee’s account or in gift vouchers. But still there are many who give this bonus by cash.
This practice will definitely will benefit all in many aspects, especially “Unethical practices” will be fully in control.But if the amount needs to be credited or paid in cheque there will be a major problem I believe. The weaker sections especially the labor class hardly have any bank account, at least not all. So the frist step that needs to be done is by opening account for all those who are eligible for bonus at least. This will again lead to further problems like the KYC formalities of the banks for opening the account. But the biggest of all is to educate the banking norms.
So before implementing this act the Governement needs to think the pros and cons of the decision.