Company in Financial Trouble: Are Bonuses Still Required for Employees Earning Under 21K?

Hello everyone,

My company is experiencing losses, and according to the senior management, they have mentioned that bonuses will not be payable to employees due to the financial situation. I would appreciate your guidance on this matter. If there is a circular or notification stating that Statutory Bonus must be paid to employees earning below 21K as basic salary, please share it with me.

Thank you.

If your company is less than 5 years old and is making a loss, then statutory bonus may not be paid. Otherwise, a bonus at the rate of 8.33% has to be paid as per the calculations specified in the new amendment.

Thank you.