Dear All, Kindly suggest regarding the Bonus Act, a few clarifications.
1. If the company is under Loss are we still eligible to pay the same, please clarify with some note or any Notifications.
2. Can we do Self-registration even is the company has employees under 20 members?
Thanks/Regards.
From India, Bangalore
1. If the company is under Loss are we still eligible to pay the same, please clarify with some note or any Notifications.
2. Can we do Self-registration even is the company has employees under 20 members?
Thanks/Regards.
From India, Bangalore
PROFESSIONALS AND BUSINESSES PARTICIPATING IN DISCUSSION
Dear Vinod,
1) Any establishment to which the PBA,1965 is applicable, you have to pay minimum bonus to the employees, if you incur loss or do not have allocable surplus in a particular accounting year. Please refer to section 10 of the PBA,1965 [and if you are interested pl see sec.26 (1) of the Code on Wages,2019 which awaits notification for enforcement.]
2) Your second question is not clear to me. If it pertains to applicability of the PB Act,1965, it is applicable to every factory irrespective of its no of employees in any other case, the minimum no of employees shall be 20. However the appropriate Govt can reduce this. Better refer to your State Rules.
From India, Salem
59971) Any establishment to which the PBA,1965 is applicable, you have to pay minimum bonus to the employees, if you incur loss or do not have allocable surplus in a particular accounting year. Please refer to section 10 of the PBA,1965 [and if you are interested pl see sec.26 (1) of the Code on Wages,2019 which awaits notification for enforcement.]
2) Your second question is not clear to me. If it pertains to applicability of the PB Act,1965, it is applicable to every factory irrespective of its no of employees in any other case, the minimum no of employees shall be 20. However the appropriate Govt can reduce this. Better refer to your State Rules.
From India, Salem
Amendment to Payment of Bonus Act 2015.jpg
Bonus act amendment gazette copy.pdf
Bonus-amendment _206.doc