rakesh-muddam
Good Evening, My self Rakesh and I am working in MNC, my factory is still under construction from last 4 yers, there is no Production in the factory, but we have 45 Employees now, so can we propose for a bonus for who done one year in service, or bonus will effective from company earning profits onwards. Is there any established time period we have for a bonus, please suggest on this, when we are proposing to management we need to go with the clarity. Thank you
From India
PROFESSIONALS AND BUSINESSES PARTICIPATING IN DISCUSSION
Umakanthan53
Labour Law & Hr Consultant

Use factoHR and automate your HR processes

Mobile-first hire to retire HR and Payroll software that automates all HR operations and works as a catalysts for your organisational growth.



umakanthan53
5922

Dear Rakesh,

I would like you to go through the provisions of section 16 of the Payment of Bonus Act, 1965 in order to get a clear picture about the bonus liability of a newly started establishment.

In the case of a new establishment undergoing the phase of gestation, no bonus liability towards the employees employed during such period.
During the first 5 years the liability would arise only when production is commenced and profits are earned.

From India, Salem

If you are knowledgeable about any fact, resource or experience related to this topic - please add your views.







About Us Advertise Contact Us Testimonials
Privacy Policy Disclaimer Terms Of Service

All rights reserved @ 2022 CiteHRŽ

All Material Copyright And Trademarks Posted Held By Respective Owners.
Panel Selection For Threads Are Automated - Members Notified Via CiteMailer Server