Arun Kumar Maitra
Presently Working As Company Secy. In Old
Korgaonkar K A
You are requested to view below given link to get the answer to your query.
30th March 2013 From India, Mumbai
1st April 2013 From India, Delhi
1.If company is earning profits and not completing 5 years then employees have eligibility to get bonus onBASIC+DA (ACCR TO 1965 ACT)
2.If company is earning profits and completed 5 years.. definitely again the same..as above
3.If company is earning losses and not completing 5 years.. no eligibility to get bonus
4.If company is earning losses and completed 5 years.. employees have eligibility to get bonus
This bonus is calculated from 8.33% to 20% on BP+DA and the persons who get < ( less than)10000 only have ability to get bonus
THANKS AND REGARDS:
2nd April 2013 From India, Visakhapatnam
i had discussed with my seniors to start the bonus, gratuity, leaves, and Epfs which they are refusing because the employee strength asif now is 19 and also only 2 years has became to an industry but they have made some profit. please guide me with the points which i can produce in front and get these things approved. (also the act of from gov.)
4th April 2013 From India, Thane
Greetings of the day to you as well as all viewers.
You said that your employee strength is 19 and your company is 2 years old.
You are on border line of coverage under EPF, ESI and Bonus Act.
You are already covered under Gratuity Act and MLW Fund. Leave rules are applicable to you.
Border case is always dangerous. Apart from this 19 employees you might have hired part time employees, contract employees etc. Your Directors / Partners are also counted for computing the threshold limit under certain circumstances. Under this circumstances your liability may go back.
It seems you are from Mumbai-Thane. You can contact me and have commercial contract with me so that you can take services / advise from me from time to time on retainership.
4th April 2013 From India, Mumbai
Now, you are telling that you are making profits.
In this case, According to Bonus Act if the company makes profit in any of the 5 year then there is a need to pay Bonus to the Employees.
According to your profitability you can pay the bonus.
6th April 2013 From India, Bhubaneswar