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Introducing the “In Favour Of” filter in Case Laws.
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of <h1>Bonus Calculation Revamped: New Enterprises Get Flexible Profit-Based Bonus Rules for First 7 Years Under Section 16</h1> The amendment modifies section 16 of the Payment of Bonus Act, establishing special bonus calculation rules for newly established enterprises. For the first five accounting years, bonus is payable only in profitable years without applying standard calculations. In the sixth and seventh years, modified provisions apply with specific set-off mechanisms. From the eighth year onward, standard bonus calculation rules are reinstated. The amendment provides detailed explanations regarding profit determination, depreciation requirements, and clarifies that establishment status is not altered by location, management, name, or ownership changes.
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