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(Querist)
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?
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CA SURENDRA KUMAR RAKHECHA

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CA SURENDRA KUMAR RAKHECHA (Expert)
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.
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ANIL JANGID

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ANIL JANGID (Expert)
21 December 2009 AGREE
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CA Ravi Sisodia

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CA Ravi Sisodia (Expert)
21 December 2009 Agree
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