Yearly Bonus A Statutory Compliance?

Hi , I have a query related to bonus. In my offer letter it was mentioned yearly Bonus of Rs. 24000 that will be paid at the end of year. I have asked HR regarding this she told it is a statuatory compliance to pay bonus and you will definitely get Rs 24000 as bonus. Please help with the same whether this is true or not. I will be getting bonus or its just a way to hike salary

hi,
you will definitely get bonus after completion or end of year as per your offer letter.

It can be performance bonus which might be depend on your KRA's.
So the company might have some percentage ratio which you will complete in a year and you will get that bonus.
Or It can be an annual bonus which you will get after completion of your company's financial year.
Will suggest you to have a discussion with HR-SPOC
He/She will help you better :)
Regards,
Sudeep