Hi All,
I would like to know if The Payment of Bonus Act is applicable to the service industry (consultancy). In my last company, it was a part of my CTC (let's assume X), and the calculation was done based on the company balance scorecard (let's assume Y% here). Hence, the actual amount paid was (Y% of X). Please clarify in this regard.
Thanks & Regards
From India, Noida
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I would like to know if The Payment of Bonus Act is applicable to the service industry (consultancy). In my last company, it was a part of my CTC (let's assume X), and the calculation was done based on the company balance scorecard (let's assume Y% here). Hence, the actual amount paid was (Y% of X). Please clarify in this regard.
Thanks & Regards
From India, Noida
Acknowledge(0)Amend(0)
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Amendment to Payment of Bonus Act 2015.jpg
Bigger bonuses for more as Lok Sabha amends Payment of Bonus Act - The Economic Times.pdf
THE PAYMENT OF BONUS ACT.doc