Seeking Exemption from Payment of Bonus 1965
3 years ago
we are an startup registered made our presence in market from 2018 onwards were we are handling two Govermental project as of now which were about to get completed on 30/09/2020 & 31/10/2020 with about 22 Employee & 24 Employees . In Contract agreement i agreed for payment of bonus as 8.33% as per goverment norms .
were due to present goverment norm and reversion of payment wage for about 60% than before created us an huge Loss
Inorder to manage the Loss Management we planned to get some exemption like instead of Bonus 8.33% bonus we planned to give it as Ex-Gratia Fund as ceiling amount as 7500
since we are start up incorporated on 2018 /07 only we planned to get exemption fromPayment of bonus 1965 on Section 16 (1A) . my requestion for the experts is that is it possible for me to proceed .
You may approach High Court for appropriate relief.
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DIYAVARHUSSAIN SHAIK
Responded 3 years ago
As per your inputs your issue falls with the employee bonus claims, as you fall in loss you can submit a proposal to the employee in written and a requisition to the labor department with all your submissions then seeing the possibilities the government may order in your favor
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