I am the Lead HR of a new company. Employee strength is 20+. Project is going on. We will be commercialising after 2 years i.e. company will start earning after 2 years. In this scenario, I would like to know guidelines of Payment of Bonus Act.
1. Are we supposed to include bonus in employee CTC from now onwards or should be wait for commercialisation to begin?
2. Are we supposed to pay bonus even when project is going on or can we start to pay the bonus only after commercialisation?
3. If we have to pay bonus after commercialisation, then do we have to pay bonus for the period when company was not earning?
From India, Chennai
1. Are we supposed to include bonus in employee CTC from now onwards or should be wait for commercialisation to begin?
2. Are we supposed to pay bonus even when project is going on or can we start to pay the bonus only after commercialisation?
3. If we have to pay bonus after commercialisation, then do we have to pay bonus for the period when company was not earning?
From India, Chennai
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Amendment to Payment of Bonus Act 2015.jpg
Bigger bonuses for more as Lok Sabha amends Payment of Bonus Act - The Economic Times.pdf
THE PAYMENT OF BONUS ACT.doc