Treat ment of unpaid bonus
This query is : Resolved
09 April 2009
Hi all,
Pls guide me for treatment if unpaid bonus and its carry forward clause
Pls guide me for treatment if unpaid bonus and its carry forward clause
CA. B.SRINIVASULU
(Expert)
09 April 2009
It depends on which state you are.
For eg if you are covered by karnataka state then you have to transfer to Karnataka labour welfare fund if it is not claimed for 3 years.
Similarly you have to check the labour laws of your state.
If your state labour laws are silent with respect to that and if you are a company then you have to transfer to Investor education fund. If you are not a company then it will be treated as writing back of liability.
For eg if you are covered by karnataka state then you have to transfer to Karnataka labour welfare fund if it is not claimed for 3 years.
Similarly you have to check the labour laws of your state.
If your state labour laws are silent with respect to that and if you are a company then you have to transfer to Investor education fund. If you are not a company then it will be treated as writing back of liability.
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