Greeting to All,
We are running a partnership firm and have several contracts across India in the verious sectors. recently, one of our contracts got over on March 22, and final IR Clearance work is going on and they (principal employer) have raised a query to pay the last six-month bonus i.e (Oct'21 to March'22). usually, we pay a bonus from (Oct-Sept) per year instead of considering the financial year. We requested the principal employer to give permission to pay it by Nov'22 for that we will issue a request letter to you. but they denied our request and instructed us to pay the same at the earliest.
So, Our query is that can we hold the Bonus of the employee for eight months and pay it by Nov'22 as per the bonus act, or we must pay it to get IR Clearance. Some employees have left the job and some are transferred to other work.
Kindly guide us.
Pratap N
We are running a partnership firm and have several contracts across India in the verious sectors. recently, one of our contracts got over on March 22, and final IR Clearance work is going on and they (principal employer) have raised a query to pay the last six-month bonus i.e (Oct'21 to March'22). usually, we pay a bonus from (Oct-Sept) per year instead of considering the financial year. We requested the principal employer to give permission to pay it by Nov'22 for that we will issue a request letter to you. but they denied our request and instructed us to pay the same at the earliest.
So, Our query is that can we hold the Bonus of the employee for eight months and pay it by Nov'22 as per the bonus act, or we must pay it to get IR Clearance. Some employees have left the job and some are transferred to other work.
Kindly guide us.
Pratap N