DEAR SIR,
I AM WORKING WITH PUBLIC SECTOR COMPANY SINCE DECEMBER 2007. OUR COMPANY REGISTERED FROM SEPTEMBER 2006 AND I WAS TOLD AS THERE IS NO BONUS IN OUR ORGANISATION. I DISCUSSED WITH MY SR.MANAGER REGARDING THIS MATTER. BUT HE TOLD ME AS PER AS PAYMENT OF BONUS ACT 1965 WE ARE NOT ELIGIBLE FOR THIS YEAR.ACCORDING TO RULES SAYS "In the first five accounting year following the accounting year in which the employer sells the goods produced or manufactured by him or renders services, as the case may be, from such establishment, bonus shall be payable only in respect of the accounting year in which the employer derives profit from such establishment and such bonus shall be calculated in accordance with the provisions of this act in relation to that year, but with out applying the provisions of section 15.
THANKS,
PKUMAR