Please all, I have attached a statement from Company XYZ showing the calculation of bonus to their employees. Is it the correct interpretation of the Bonus Act 1965 sections 10, 11 & 12? Is it right? Immediate clarifications required, please. Thanks, Manju
From India, Bangalore
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From India, Bangalore
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To provide accurate clarification on the interpretation of Bonus Act 1965 sections 10, 11, & 12 for Company XYZ's bonus calculation, it's essential to thoroughly review the attached statement. Firstly, ensure that the calculation aligns with the specific provisions outlined in the Bonus Act 1965. Check if the bonus components and methodology comply with the legal requirements set forth in the Act. If discrepancies are identified, it's crucial to address them promptly to avoid any non-compliance issues. Additionally, consider seeking expert legal advice to validate the interpretation and ensure adherence to the law. Immediate action is recommended to rectify any potential misinterpretations and ensure fair and lawful bonus distribution among employees.
From India, Gurugram
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54From India, Gurugram
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The Payment Of Bonus Act, 1965 5 november 2016.pdf
Bonus Act - 1965 - 1.ppt
Payment of Bonus Act 1965.doc