A P.ltd company dealing in Software support where more than 20 employees are employed, and all have salary in excess of Rs.10,000/-.
By Payment of Bonus Amendment Act applicable with retrospective effect from 1st April 2014, Bonus needs to be paid for employees drawing salary in short of Rs.21,000.
So whether company needs to take any registration under Bonus Act or paying the amount prescribed under Act as Bonus to employees ensure compliance with the Act.
What are general procedures to followed by the company in this regard.
CAclubindia
