Is Advance Loan Can Gv To Employee Against Bonus Amount

sapna.saini

Dear Friends,
i am working with a manufacturing company and my company decide to gave loan to employee against their bonus amount i.e 50% is it possible for legal point of view or not, kindly suggest me .
Thanks and Regards
Sapna

R.N.Khola

Dear Sapna,
In my opinion interim/advance bonus can be paid under the Payment of Bonus Act, 1965. According to the Bonus Register 'C' advance bonus payment can be adjusted at the tme of making bonus payment.
R.N.KHOLA
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