LAW queries

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dinesh (Querist)
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21 December 2009 1 What is meant by Ex-Gratia Payment ?

2.In bonus Act 1965 section(1) will an establishment has to comply with any 1or all of the following conditions: -

(a) employee should be more than 10
(b) notification should be issued by the central govt. in the official gazette.

3. what is the difference between the company and corporation?

CA SURENDRA KUMAR RAKHECHA

CA SURENDRA KUMAR RAKHECHA (Expert)
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21 December 2009 1. Ex-gratia payment means amount paid by the employer without any legal obligation.

2. Even though employee number are less than 10; OG can provide to pay Bonus to employees.

3. Co. are governed by Companies Act,1956 whereas nature of Corporation is semi-government like LIC of India.