Can the Govt ask for Balance sheet details like calculations of allocable / available surplus, etc. if the employer is paying a Maximum Bonus @ 20 % as stipulated under the Act.
From India, Indore
Acknowledge(0)
Amend(0)
From India, Indore
Acknowledge(0)Amend(0)
Understanding Legal Obligations for Balance Sheet Submission
No action is suo moto (on its own accord). If an employee complains to the Controlling Authority or Labour Department, they can request information. Under section 27, the Inspector can visit and ask for such documents. Under section 23, if you are providing the audited balance sheet, it will be presumed accurate, and anyone disputing it must prove otherwise.
Under section 27(4), if asked, you are under a legal duty to submit the audited balance sheet. If you have any queries, please leave a comment.
For more information, visit Indian Labour Laws & Shram Suvidha Simplified.
From India, Kolkata
Acknowledge(0)Amend(0)
180No action is suo moto (on its own accord). If an employee complains to the Controlling Authority or Labour Department, they can request information. Under section 27, the Inspector can visit and ask for such documents. Under section 23, if you are providing the audited balance sheet, it will be presumed accurate, and anyone disputing it must prove otherwise.
Under section 27(4), if asked, you are under a legal duty to submit the audited balance sheet. If you have any queries, please leave a comment.
For more information, visit Indian Labour Laws & Shram Suvidha Simplified.
From India, Kolkata
Acknowledge(0)Amend(0)
You are required to maintain the records of allocable and available surplus, and the set-on set-off registers. Since that is required and can be inspected by the authorities at any time, they can also ask for the annual accounts to verify the accuracy of the same.
From India, Mumbai
Acknowledge(0)Amend(0)
From India, Mumbai
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.
Labr laws for Vendor compliance Management.pdf
BALANCE SCORE CARD DETAILS.zip