India Inc is unlikely to curtail or delay payout of festival bonus to employees despite the slowdown, raising hope among consumer goods companies and retailers that the move might boost sentiment & drive up purchases in the festive season.
Leading employers across sectors such as Hindustan Unilever, ITC, Godrej Group, Axis Bank, Future Group, Honda Motorcycle & Scooter India, Maruti Suzuki, RPG Group, BigBasket, Grofers, Puma, Panasonic and Dixon Technologies are handing out out bonuses to employees, several company and industry executives said.
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The incentive includes either a special bonus for the festive season or a sales incentive or bonus payout for white-collar executives and managers in September-October. The blue-collar workforce, mostly in factories and on shop floors, too will receive the statutory bonus that is a portion of their basic pay.
Source: Economic Times
