Hi, I'm working as an HR Executive in a Manufacturing Industry. I have a doubt about the Bonus Rule. Our company is experiencing cash loss, but the management is not willing to pay the bonus because the company is in a loss. Kindly suggest whether the bonus has to be paid or not in this case.
Note: The company has been in operation since 1987.
From India, Bengaluru
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Note: The company has been in operation since 1987.
From India, Bengaluru
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The company has to pay minimum bonus 8.33% i.e., Rs.7000/- or minimum wage applicable for your industry whichever is high.
From India, Hyderabad
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16From India, Hyderabad
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Dear Lokesha,
Since your organization has been established since 1987, please check whether there is any "set on" in the bonus account. If not, then as suggested by Krishnakumar, please go ahead with that. If there is no allocable surplus, the entire bonus amount will be considered as "set off."
Thanks and regards,
S K Bandyopadhyay (Howrah, WB)
From India, New Delhi
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Since your organization has been established since 1987, please check whether there is any "set on" in the bonus account. If not, then as suggested by Krishnakumar, please go ahead with that. If there is no allocable surplus, the entire bonus amount will be considered as "set off."
Thanks and regards,
S K Bandyopadhyay (Howrah, WB)
From India, New Delhi
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Amendment to Payment of Bonus Act 2015.jpg
Bonus act amendment gazette copy.pdf