Bonus can be paid only once a year based on the Balance Sheet of the company. It cannot be paid on a monthly basis. Once you start paying it on a monthly basis, then it cannot be called a Statutory bonus; rather, it would be Ex-gratia.
From India, Pune
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Bonus can be paid once the financial year is completed, after the finalization of the balance sheet based on the calculation of Form A - Computation of the allocable surplus under section 2(4) and Form B - Set-on and set-off of Allocable Surplus under section 15.
From India, Bangalore
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From India, Bangalore
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