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Company own bonus policy

Labour & Industrial 842 views 1 replies

CA rahul

BCOM(H) ACA

725 Points Posted on 20 October 2014

Can company pay diwali bonus as per its own bonus policy , if yes such policy should by approved by board of director

Regards

Rahuk

Replies (1)

Rama chary Rachakonda

Master in Accounts & high court Advocate

9615 Points Posted on 16 December 2014

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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