Dear Sir,
I wanted to know the applicability of Bonus Act & calculation of bonus.
Ours is properietor firm doing business of engineering works.
our company is doing well. Till last year we use to pay bimnus @ 8.33% per year but I come to know from one CA that since company is doing well we must pay bonus @20% per year.
I am confused about the calculation of bonus. Please advice me whether it is compulsary to pay bonus @ 20% per year if the company is doing well?
Thanking You,
KETAN TAMORE
I wanted to know the applicability of Bonus Act & calculation of bonus.
Ours is properietor firm doing business of engineering works.
our company is doing well. Till last year we use to pay bimnus @ 8.33% per year but I come to know from one CA that since company is doing well we must pay bonus @20% per year.
I am confused about the calculation of bonus. Please advice me whether it is compulsary to pay bonus @ 20% per year if the company is doing well?
Thanking You,
KETAN TAMORE