Hello, A newly setup company going to get profit in next year. The Bonus Act will applicable for that company. Or Not. With Regards SANTOSH KUMAR GUPTA
From India, Gurgaon
Acknowledge(0)
Amend(0)
From India, Gurgaon
Acknowledge(0)Amend(0)
Hi Buddy, Newly set up establishment is exempted from paying bonus for initial 5 years provided no profit is made during these days. With Regards Mr.Thumbs Up
From India, Chennai
Acknowledge(0)Amend(0)
105From India, Chennai
Acknowledge(0)Amend(0)
Hello,
In the first five accounting years following the accounting year in which the employer sells the goods produced or manufactured by him or renders services, as the case may be, from such establishment, a bonus shall be payable only in respect of the accounting year in which the employer derives a profit from such establishment. This bonus shall be calculated in accordance with the provisions of this act in relation to that year, but the concept of set-off and set on will not apply.
From India, Bangalore
Acknowledge(0)Amend(0)
In the first five accounting years following the accounting year in which the employer sells the goods produced or manufactured by him or renders services, as the case may be, from such establishment, a bonus shall be payable only in respect of the accounting year in which the employer derives a profit from such establishment. This bonus shall be calculated in accordance with the provisions of this act in relation to that year, but the concept of set-off and set on will not apply.
From India, Bangalore
Acknowledge(0)Amend(0)CiteHR is an AI-augmented HR knowledge and collaboration platform, enabling HR professionals to solve real-world challenges, validate decisions, and stay ahead through collective intelligence and machine-enhanced guidance. Join Our Platform.
Amendment to Payment of Bonus Act 2015.jpg
Bonus act amendment gazette copy.pdf