HDC employees to receive up to MVR 18,600 as annual bonus

Housing Development Corporation has decided that the maximum threshold for this year's annual bonus to staff will be MVR 18,600.

A senior official of HDC stated that the annual bonus will be disbursed after being passed by the company's board and with authorization from the Finance Ministry. 

As per the official, the annual bonus will be determined based on the staff's period of service within the year. As such, the highest amount that will be granted as annual bonus is MVR 18,600.

"So, not every member of staff will receive MVR 18,600. Bonus will be given after considering the service period. Different members of staff will receive different amounts," they explained. 

Last year, HDC's annual bonus was set at MVR 10,000. 

State companies issue annual bonus each year based on their financial status.