Dear All,
Thanks in advance for considering this as important.
I want to understand that a partnership firm working since 15 years in a metro city with more then 100 employees is liable to pay bonus,gratuity to his employees or not wherein they have two years back taken the shop and establishment act registration and working as a retail company still not paid bonus to anyone.
The firm is still showing loss in his balance sheet since starting.
Please do the needful.
From India, Meerut
1Thanks in advance for considering this as important.
I want to understand that a partnership firm working since 15 years in a metro city with more then 100 employees is liable to pay bonus,gratuity to his employees or not wherein they have two years back taken the shop and establishment act registration and working as a retail company still not paid bonus to anyone.
The firm is still showing loss in his balance sheet since starting.
Please do the needful.
From India, Meerut
It is quite astonishing that Ahmadshad raises this question just now when the firm has been in existence for the last 15 years that too in a Metro with more than 100 employees and the Law relating to bonus has been in vogue since 1965! For the generality of application of the Payment of Bonus Act,1965, constitution of the establishment has no relevance. Similarly continuous losses incurred by the establishment can not be a reason for non-payment of bonus to its employees - minimum bonus has to be paid.
From India, Salem
From India, Salem
Dear Sir,
You will find in Mumbai also many factories / establishments are not following the Labour Laws. No minimum wage is followed. No PF, No ESI, No Bonus. Even in organised sector. Enforcement authorities they just come to such factories / establishments to collect hafta periodically. Most astonishing thing is that the many HR guys / consultants do not know the labour laws. I have seen many companies deduct PF on 3000 / 4000.
From India, Mumbai
You will find in Mumbai also many factories / establishments are not following the Labour Laws. No minimum wage is followed. No PF, No ESI, No Bonus. Even in organised sector. Enforcement authorities they just come to such factories / establishments to collect hafta periodically. Most astonishing thing is that the many HR guys / consultants do not know the labour laws. I have seen many companies deduct PF on 3000 / 4000.
From India, Mumbai
I do not understand how or why a form will exist for 15 years doing business with losses in all 15 years. I suspect you have incorrect information.
Coming to the other point, bonus is payable only to those with wages less than ₹10000 per year. If you have employees below ₹10000 then you need to pay them bonus. If you have a loss, bonus is only ₹3500 per year, which is not a large impact.
Gratuity is payable for all employees with at least 5 years of continuous work. If you have worked for more than 5 years you will get gratuity on leaving your job.
But what is your actual question. What exactly is the "needful" you want members of the forum to do ?
From India, Mumbai
Coming to the other point, bonus is payable only to those with wages less than ₹10000 per year. If you have employees below ₹10000 then you need to pay them bonus. If you have a loss, bonus is only ₹3500 per year, which is not a large impact.
Gratuity is payable for all employees with at least 5 years of continuous work. If you have worked for more than 5 years you will get gratuity on leaving your job.
But what is your actual question. What exactly is the "needful" you want members of the forum to do ?
From India, Mumbai
""You will find in Mumbai also many factories / establishments are not following the Labour Laws. No minimum wage is followed.""
Still government wants to remove inspector raj.No checking will ensure that no labour laws get followed.If you have checks then inspectors demand hafta,if there is no check owners enjoy.
This is the tragedy of our nation.
Anyway coming to the query of original poster
My suggestions:
Complain to labour officer for violations of law
Complain to Registrar of firms and ask them to organise a special audit to see how a firm can run 15 years continuosly in loss or is it a question of producing fudged a/cs.
From India, Pune
Still government wants to remove inspector raj.No checking will ensure that no labour laws get followed.If you have checks then inspectors demand hafta,if there is no check owners enjoy.
This is the tragedy of our nation.
Anyway coming to the query of original poster
My suggestions:
Complain to labour officer for violations of law
Complain to Registrar of firms and ask them to organise a special audit to see how a firm can run 15 years continuosly in loss or is it a question of producing fudged a/cs.
From India, Pune
Thanks for writing for my concern.
regarding the loss of the company i only had a question with CA of company that why employees are not getting gratuity and bonus then CA answered that company is not in profit for last 15 years still they are running it and that answer was also not digestible for me too.
For understanding the fact from seniors I used "needful"word.
From India, Meerut
regarding the loss of the company i only had a question with CA of company that why employees are not getting gratuity and bonus then CA answered that company is not in profit for last 15 years still they are running it and that answer was also not digestible for me too.
For understanding the fact from seniors I used "needful"word.
From India, Meerut
Dear Bhat,
Removing inspector raj is easier said than done.
One known person was trying to start an eatery joint and the delay in getting sanctions was same as before so called withdrawal of Inspector Raj.
From India, Pune
Removing inspector raj is easier said than done.
One known person was trying to start an eatery joint and the delay in getting sanctions was same as before so called withdrawal of Inspector Raj.
From India, Pune
dear minimum bonus has to be paid whose basic is less than 10k per month.
there is a provision in bonus act where you are exempted to pay bonus for aintial period of five years if you are in loss but from 6th year onwards you have to pay bonus irrespective of profit or loss.gratuity does not have any relation with loss and it has to be paid.
From India, Delhi
there is a provision in bonus act where you are exempted to pay bonus for aintial period of five years if you are in loss but from 6th year onwards you have to pay bonus irrespective of profit or loss.gratuity does not have any relation with loss and it has to be paid.
From India, Delhi
Originally Posted by Nathrao
Dear Bhat,
Removing inspector raj is easier said than done.
One known person was trying to start an eatery joint and the delay in getting sanctions was same as before so called withdrawal of Inspector Raj.
Dear Sir,
This is one of the move to abolish corruption. Even to day the Exempted Trust Inspection is carried on, along with the Contractors of the establishments.
The Govt has opened single window policy for various permissions. And on-line application facility is provided.
Thanks & Regards,
Vidyadhar Bhat
From India, Pune
Dear Bhat,
Removing inspector raj is easier said than done.
One known person was trying to start an eatery joint and the delay in getting sanctions was same as before so called withdrawal of Inspector Raj.
Dear Sir,
This is one of the move to abolish corruption. Even to day the Exempted Trust Inspection is carried on, along with the Contractors of the establishments.
The Govt has opened single window policy for various permissions. And on-line application facility is provided.
Thanks & Regards,
Vidyadhar Bhat
From India, Pune
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