Contractual bonus
This query is : Resolved
11 November 2013
Dear sirs anybody explain contractual bonus with example
CA.Shubhneet Kaur
(Expert)
11 November 2013
Bonuses that are payable in accordance with the terms of contract of service or a bonus plan adopted by employer, which cannot be rescinded by the employer without legal consequences ...that means its legally binding,
Example - Bonus which is paid under some preferred bonus plan and it also includes the 13th month payment (annual wage supplement)
Example - Bonus which is paid under some preferred bonus plan and it also includes the 13th month payment (annual wage supplement)
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