Can company pay diwali bonus as per its own bonus policy , if yes such policy should by approved by board of director
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Rahuk
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Company own bonus policy
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The payment of Bonus Act provides for payment of bonus to persons employed in certain establishments of the basis of profits or on the basis of production or productivity and for matters connected therewith.
It extends to the whole of India and is applicable to every factory and to every other establishment where 20 or more workmen are employed on any day during an accounting year
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