i am working with a manufacturing company and my company decide to gave loan to employee against their bonus amount i.e 50% is it possible for legal point of view or not, kindly suggest me .
Thanks and Regards
In my opinion interim/advance bonus can be paid under the Payment of Bonus Act, 1965. According to the Bonus Register 'C' advance bonus payment can be adjusted at the tme of making bonus payment.
R.N.KHOLA Welcome Skylark Associates
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