Is the Bonus Act Relevant to the Software Industry? Seeking Guidance on Its Applicability

nikhilkumar363
Friends,

Can anybody tell me if the Bonus Act is applicable to the Software Industry? Also, please guide us on its applicability.

Nikhil
rajanlawfirm
Dear Bonus Act is applicable to every factory and every other establishment in which twenty or more persons are employed on any day during an accounting year. "Establishment in the private sector" means any establishment other than an establishment in the public sector. If your establishment comes under the above, you are in it.

With Regards,

V. Sounder Rajan

VS Rajan Associates, Advocates & Notaries
No. 27, 1st Floor, Singapore Plaza,
No. 164, Linghi Chetty Street,
Chennai - 600 001.
E-mail: rajanassociates@eth.net
Off: 044-42620864, 044-65874684
Mobile: 98401 42164.
mahendramanwatkar
It is true that the first five years' bonus is not applicable to new industry, and later on, 8.33% is mandatory. Please let me know.
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