Dear Seniors,
The closing of accounts is on 31 December of each year and the same are placed before AGM in January. Now the bonus is to be paid within 8 months from the closure accounting year. For the purpose of IT , the books are closed on 31st March each year.
Kindly advise as to which month onward we should start counting 8 months and before end of which month we should the Bonus.
Regards
laxman
From India, Chicalim
2The closing of accounts is on 31 December of each year and the same are placed before AGM in January. Now the bonus is to be paid within 8 months from the closure accounting year. For the purpose of IT , the books are closed on 31st March each year.
Kindly advise as to which month onward we should start counting 8 months and before end of which month we should the Bonus.
Regards
laxman
From India, Chicalim
Bonus must be paid within 8 months from the closing of the accounting year which in your case is 31st March. There fore the bonus must be paid within 8 months thereafter i.e between April to November.
B.Saikumar
HR & Labour Law advsior
Mumbai
From India, Mumbai
B.Saikumar
HR & Labour Law advsior
Mumbai
From India, Mumbai
since accounting year closes by March, whether v can pay bonus for the period april 2011 to March 2012. Plz correct me....
From India, Coimbatore
From India, Coimbatore
If Mangement want to take benifit of I T they have to pay in the month of August of each year J L Trivedi Ahmedabad
From India, Ahmadabad
From India, Ahmadabad
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