Regarding the payment of bonus
This query is : Resolved
18 January 2014
Dear Sir/Madam,
As per the Payment of Bonus Act Payment of Bonus is Minimum 8.33%.
A)if any Employee has made a contract with employer the payment of Bonus Shall be paid @15% of his annual salary can employer responsible for payment of Bonus Act.
B) Vice versa if the employer as made a contract about the payment of Bonus @ 5% of His Annual Salary.
The Question is can employer pay as per the provisions of the POB Act in case of A & B
Thanks & Regards
As per the Payment of Bonus Act Payment of Bonus is Minimum 8.33%.
A)if any Employee has made a contract with employer the payment of Bonus Shall be paid @15% of his annual salary can employer responsible for payment of Bonus Act.
B) Vice versa if the employer as made a contract about the payment of Bonus @ 5% of His Annual Salary.
The Question is can employer pay as per the provisions of the POB Act in case of A & B
Thanks & Regards
18 January 2014
Hi
As per POBA an employer can do so as long as such bonus is paid in lieu of profits earned by company.
Thanks
As per POBA an employer can do so as long as such bonus is paid in lieu of profits earned by company.
Thanks
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