Is Bonus payable in case Company is in Loss

sdkhr

Hello guys,
My company is in loss and as per the seniors, they are saying that bonus is not payable to employees as the company is in loss. Please guide me in this regards and if you have any circular/notification, wherein it says that Statutory Bonus is compulsory to pay to employees who are comes below 21K as basic salary.
Thanks

Shrikant_pra

If your company is less than 5 year old & is making loss, then statutory bonus may not be paid. Otherwise bonus @ 8.33 has to be paid as per calculations specified in new amendment.

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