Hello, Our Company is making losses for the last two years, does Company need to pay a Bonus?
From India
From India
Even if your company is at loss, you will have to disburse the statutory minimum bonus to your employees.
From India, Aizawl
624From India, Aizawl
Dear Member,
If your company is covered under the Payment of Bonus Act, 1965 & is in infancy period then in that case of losses company is not required to pay any bonus to the employees. If you are out of infancy period then in that case if the company is even under losses then the company is required to pay minimum payable bonus to the covered employees for that accounting year.
Regards,
R N KHOLA
From India, Delhi
If your company is covered under the Payment of Bonus Act, 1965 & is in infancy period then in that case of losses company is not required to pay any bonus to the employees. If you are out of infancy period then in that case if the company is even under losses then the company is required to pay minimum payable bonus to the covered employees for that accounting year.
Regards,
R N KHOLA
From India, Delhi
If the Company is in infancy period as per PB Act and made loss - no need to pay bonus. If there is any profit (allocable surplus ) in between Infancy period Bonus has to be paid. Once it has been paid then even in between infancy period if there is any loss, bonus has to be paid at minimum rate (8.33%).
If the infancy period is over and there is loss, Minimum Bonus has to be paid.
S K Bandyopadhyay ( WB, Howrah)
CEO-USD HR Solutions
+91 98310 81531
USD HR Solutions – To Strive towards excellence with effort and integrity
From India, New Delhi
If the infancy period is over and there is loss, Minimum Bonus has to be paid.
S K Bandyopadhyay ( WB, Howrah)
CEO-USD HR Solutions
+91 98310 81531
USD HR Solutions – To Strive towards excellence with effort and integrity
From India, New Delhi
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