I am Management Representative. My question is if apparel manufacturing company is not financially sound and suffering from losses from continuous three years is eligible to pay bonus to the workers and employee of the company.
You have to apply to the state government under section 36 of payment of bonus act to grant exemption for the payment of bonus due to the financial condition in the company from the past 3 years with relevant supporting documents. If the same is found acceptable by the govt, it will be published in the state govt's gazette notification for certain period.
If you are knowledgeable about any fact, resource or experience related to this topic - please add your views. For articles and copyrighted material please only cite the original source link. Each contribution will make this page a resource useful for everyone. Join To Contribute