Hi Seniors,
I would like to know more details on Bonus Act.
1. When does payment of Rs. 3500/- come into effect as minimum bonus amount?
2. The Bonus is actually paid 8.33 percent or max 20 percent. The terms of offset and on set in detail.
3. If the company is into business since 7 to 8 years (profit earning) and only considered Rs. 3500/- as payment of bonus will there be any penalty?
Kindly provide me inputs on the above.
Thanks
Vjaya
I would like to know more details on Bonus Act.
1. When does payment of Rs. 3500/- come into effect as minimum bonus amount?
2. The Bonus is actually paid 8.33 percent or max 20 percent. The terms of offset and on set in detail.
3. If the company is into business since 7 to 8 years (profit earning) and only considered Rs. 3500/- as payment of bonus will there be any penalty?
Kindly provide me inputs on the above.
Thanks
Vjaya