our company ( Pvt Ltd ) has been incurring loss from F Y 06-07 onwards. However company has made profit during F Y 05-06. And paid minimum bonus for FY 05-06,06-07, and 07-08. Is our company liable pay for the bonus for the F Y 08-09 though it incurred loss during that period ?
From India, Mumbai
From India, Mumbai
dear bonus is not decided by profits of one year.you first tell how old is your company. if your company is more than five years than profits does not have any comcern. regards jsmalik
From India, Delhi
167From India, Delhi
thnx for quict reply ..our company is incorporated in 1994 and business taken our by other management (share holder) and all the employees appointment considered from 1/7/2006 onwards ? is this situation makes any exemption ( relief ) for company for not paying any bonus to employees
From India, Mumbai
From India, Mumbai
dear your company is preparing their balance sheet from more than five years ,so exemption for you. regards js malik
From India, Delhi
From India, Delhi
dear sir your answer says "So Exemption for you" is it so ? . or it is no exemption for you
From India, Mumbai
From India, Mumbai
dear no exemption for your company if company is preparing balance sheet from last five years. regards jas malik
From India, Delhi
From India, Delhi
What is the period cieling for Balance Sheet. is it that even if the company is running into loss it has to pay bonus, even if it has been into operation since three years. i am asking this as we had a recent discussion on this topic.
Kamal
From India, New Delhi
Kamal
From India, New Delhi
Your company is not eligible for exception, becuase there is a continuos business operation and balance sheet for your company from 1994. Your company is liable to pay minimum bonus of 8.33% (since you mention that there is a loss in the balance sheet).
Regards
R.Palaniswamy
From India, Coimbatore
Regards
R.Palaniswamy
From India, Coimbatore
Mr. Malik, Sir can you tell me what is the bonus rate for Maharashtra and is it same across d india or state wise? Regards Minal
From India, Mumbai
From India, Mumbai
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