our company ( Pvt Ltd ) has been incurring loss from F Y 06-07 onwards. However company has made profit during F Y 05-06. And paid minimum bonus for FY 05-06,06-07, and 07-08. Is our company liable pay for the bonus for the F Y 08-09 though it incurred loss during that period ?
From India, Mumbai
From India, Mumbai
167
thnx for quict reply ..our company is incorporated in 1994 and business taken our by other management (share holder) and all the employees appointment considered from 1/7/2006 onwards ? is this situation makes any exemption ( relief ) for company for not paying any bonus to employees
From India, Mumbai
From India, Mumbai
Your company is not eligible for exception, becuase there is a continuos business operation and balance sheet for your company from 1994. Your company is liable to pay minimum bonus of 8.33% (since you mention that there is a loss in the balance sheet).
Regards
R.Palaniswamy
From India, Coimbatore
Regards
R.Palaniswamy
From India, Coimbatore
Mr. Malik, Sir can you tell me what is the bonus rate for Maharashtra and is it same across d india or state wise? Regards Minal
From India, Mumbai
From India, Mumbai
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