Dear Sir, IS ESI AND PF DEDUCTED ON BONUS AMOUNT & IS THERE ANY EXEMPTION FOR NEW COMPANY FOR PAYMENT OF BONUS OR WHEN THE EMPLOYEE GET BONUS FIRST TIME IN NEW COMPANY. HEMANT
From India, Udaipur
From India, Udaipur
ESI and EPF are not to be deducted from Bonus amount paid to employees.
As per Payment of Bonus Act, 1965, a new company need to pay bonus only in the year in which the company makes profits. However, this is available only for five years from the date of first production.
Regards,
Madhu.T.K
From India, Kannur
4249As per Payment of Bonus Act, 1965, a new company need to pay bonus only in the year in which the company makes profits. However, this is available only for five years from the date of first production.
Regards,
Madhu.T.K
From India, Kannur
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