IT consulting company - do we need to pay bonus?

Hello, We are a boutique Information Technology consulting company with focus on core banking & treasury solutions,
As bonus component is not mention in our offer letter or anywhere in the company policy, do we need to pay the bonus to our employees?
Please guide
Regards,
Vrushali

Dear Vrushali,
Whatever your " Company " may be, if the Payment of Bonus Act,1965 is applicable to it as per Sec.1 (3) of the Act, you have to pay bonus to the employees not withstanding your Company policy or your offer letter.