Can any one please tell me, bonus can be paid in kind. but i dont find any provision stating in "THE PAYMENT OF BONUS ACT 1965" that bonus has to be paid only in cash.
Please help me out in this issue
VIGNESH (Manager Finance &Accounts) (327 Points)
21 January 2010Can any one please tell me, bonus can be paid in kind. but i dont find any provision stating in "THE PAYMENT OF BONUS ACT 1965" that bonus has to be paid only in cash.
Please help me out in this issue
Gyan Mishra
(Service)
(48 Points)
Replied 03 June 2010
| Originally posted by : VIGNESH | ||
 |
Can any one please tell me, bonus can be paid in kind. but i dont find any provision stating in "THE PAYMENT OF BONUS ACT 1965" that bonus has to be paid only in cash. Please help me out in this issue |
 |
Hi Vignesh,
Just read the First line written under the heading "TIME LIMIT FOR PAYMENT OF BONUS" which clearly states that" All amount payable to an employee by way of bonus under this act shall be paid in CASH"
Kalpesh Chauhan,
(Tax Assistant (Accounting Technician CA FINAL CS PROF. PROG. B.Com))
(8310 Points)
Replied 09 June 2010
CA SURENDRA KUMAR RAKHECHA
(Practising CA at Surat)
(26258 Points)
Replied 18 July 2010
Bonus is paid only in cash. If paid otherwise; it is perquisite and not bonus.
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