Hello, A newly setup company going to get profit in next year. The Bonus Act will applicable for that company. Or Not. With Regards SANTOSH KUMAR GUPTA
From India, Gurgaon
From India, Gurgaon
Hi Buddy, Newly set up establishment is exempted from paying bonus for initial 5 years provided no profit is made during these days. With Regards Mr.Thumbs Up
From India, Chennai
104From India, Chennai
Hello,
In the first five accounting year following the accounting year in which the employer sells the goods produced or manufactured by him or renders services, as the case may be, from such establishment, bonus shall be payable only in respect of the accounting year in which the employer derives profit from such establishment and such bonus shall be calculated in accordance with the provisions of this act in relation to that year but the concept of set off and set on will not apply.
From India, Bangalore
In the first five accounting year following the accounting year in which the employer sells the goods produced or manufactured by him or renders services, as the case may be, from such establishment, bonus shall be payable only in respect of the accounting year in which the employer derives profit from such establishment and such bonus shall be calculated in accordance with the provisions of this act in relation to that year but the concept of set off and set on will not apply.
From India, Bangalore
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Amendment to Payment of Bonus Act 2015.jpg
Bonus act amendment gazette copy.pdf