- Is it correct as per rules to have both statutory and performance linked bonuses or other types of bonuses for employees?
- Can an employer hold these bonuses payable to an employee?
The bonus act explained only about the statutory bonus. It is mandatory to pay, within 8 months from the end of the financial year.
If company is under lose then only they wouldn’t pay however they has to provide all require documents to the department at the time of annual return.