Dear Seniors, the company has been operating for 30 years. Due to financial problems this year, the bonus for this year cannot be paid to employees. Is it mandatory to pay the bonus every year, or are there any exemptions available? Thank you.
As per the Payment of Bonus Act, it is mandatory for a company to disburse a bonus amount to its employees at a minimum rate of 8.33%, even if the company is not financially sound enough.
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