Dear Friends,
Want to know whether Bonus can be paid Monthly as a part of Salary
I have seen replies that Yes, it can be shown as CTC & also can be paid in Monthly Salary.
As per Payment of Bonus Act'1965 - Bonus is paid after completion of Financial Year within 8 Months, as it is the part of Companies Profit or at the time of F & F whichever is earlier to the employee who has served for more than 30 Days in a year. It means Bonus is paid for the previous year
How we can pay the Bonus for the current financial year in Salary on Monthly basis ?
If anyone has any extract or judgement, pls forward
Jiten
Want to know whether Bonus can be paid Monthly as a part of Salary
I have seen replies that Yes, it can be shown as CTC & also can be paid in Monthly Salary.
As per Payment of Bonus Act'1965 - Bonus is paid after completion of Financial Year within 8 Months, as it is the part of Companies Profit or at the time of F & F whichever is earlier to the employee who has served for more than 30 Days in a year. It means Bonus is paid for the previous year
How we can pay the Bonus for the current financial year in Salary on Monthly basis ?
If anyone has any extract or judgement, pls forward
Jiten