Dear Senior,
I request your assistance in clearing up my confusion regarding the applicability of the bonus act to my organization. According to the act, we are covered under the bonus act, but my confusion lies in the scenario where, "if the organization is not making a profit as per the balance sheet, will the bonus act be applicable to the organization?"
Please help me in resolving this doubt.
Regards,
Sunil Prajapati
7043925747
From India, Mumbai
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4I request your assistance in clearing up my confusion regarding the applicability of the bonus act to my organization. According to the act, we are covered under the bonus act, but my confusion lies in the scenario where, "if the organization is not making a profit as per the balance sheet, will the bonus act be applicable to the organization?"
Please help me in resolving this doubt.
Regards,
Sunil Prajapati
7043925747
From India, Mumbai
Acknowledge(0)Amend(0)
Yes, after the stipulated period has lapsed (3 years after commencement), irrespective of making a loss, a bonus is to be paid to employees falling in the category as per the amendment made in 2015.
"As per the amended Section 2(13) of the Principal Act, the Amendment Act has now widened the scope of employees eligible for payment of bonus from those drawing a salary of INR 10,000 per month to INR 21,000 per month."
From India, Delhi
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"As per the amended Section 2(13) of the Principal Act, the Amendment Act has now widened the scope of employees eligible for payment of bonus from those drawing a salary of INR 10,000 per month to INR 21,000 per month."
From India, Delhi
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Amendment to Payment of Bonus Act 2015.jpg
Bonus act amendment gazette copy.pdf