I am a management representative. My question is, if an apparel manufacturing company is not financially sound and has been suffering losses for three continuous years, is it still eligible to pay bonuses to the workers and employees of the company?
From India, Mumbai
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From India, Mumbai
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You have to apply to the state government under Section 36 of the Payment of Bonus Act to request an exemption for the payment of bonus due to the company's financial condition over the past three years, along with relevant supporting documents. If the application is deemed acceptable by the government, it will be published in the state government's gazette notification for a specific period.
From India, Chennai
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151From India, Chennai
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Amendment to Payment of Bonus Act 2015.jpg
Bonus act amendment gazette copy.pdf