Provision for bonus
This query is : Resolved
18 August 2010
A compnay has declared a lock-out in its factory and also at the Corporate Office.
The lock out has been lifted prior to 90 days from the date on which accounting year ends. There are more than 20 number of workers have been working after the lifting of the lock out. Is it complusorily required to provide for the bonus @ minimum rate of 8.33% in such situation under the Payment of Bonus Act in the year when the factory has been reopened?
If not whether there is any clarification to that extent?
The lock out has been lifted prior to 90 days from the date on which accounting year ends. There are more than 20 number of workers have been working after the lifting of the lock out. Is it complusorily required to provide for the bonus @ minimum rate of 8.33% in such situation under the Payment of Bonus Act in the year when the factory has been reopened?
If not whether there is any clarification to that extent?
18 August 2010
check out whether the same is an avoidable lock-out or non - avoidable lock out.
if it is an avoidable lock-out, you have to provide for the bonus.
if it is non-avoidable lock out, the depends on the case to case depending on the facts of the case whether to provide for the bonus or not. simple words, you need to ensure the interest of the employee.
if it is an avoidable lock-out, you have to provide for the bonus.
if it is non-avoidable lock out, the depends on the case to case depending on the facts of the case whether to provide for the bonus or not. simple words, you need to ensure the interest of the employee.
04 August 2023
You need to be the querist or approved CAclub expert to take part in this query .
Click here to login now
Click here to login now
Similar Resolved Queries
Unanswered Queries
- About TDS & Income Tax
- Scrutiny and reopening of past returns
- Pass word to open justification report for Q1 for FY 2026-27
- Tax on Deemed Capital Gain
- Section 194JA & JB Income which ITR Form to use
- PPF interest-As Exempt Income disclosure
- Type of Capital Gain
- Booth for sales promotion
- F & O PROFIT REPORTING FOR AY 2026-27
- Regarding ITR filing with more value than showing in AIS/TIS
- ITR-3 File/Error Found
- Exiting partner in partnership firm in gst portal
- Taxability of credit in canara bank ET & T section (NRO)
- Consequences of Non-Deduction of TDS under Income Tax???????????????
- TDS on Rent received on redevelopment of building
- Indian IT Portal issue in computing tax as per UK-India DTAA
- Capital Gains on sale of residential flat
- Upload Level ValidationITR3Category of Defect B/D
- PF Taxable Income
- Clarification on Tax Audit Applicability and Reporting of F&O Transactions in ITR-3
Trending Online Classes
-
DT & Audit (Exam Oriented Fastrack Batch) - For May 26 Exams and onwards Full English
CA Bhanwar Borana & CA Shubham Keswani
Subscribe to Pro
Join an elite circle of professionals
CAclubindia
