Production linked bonus allowed in place of profit based bonus, subject to a statutory cap on payments. Employees who, by agreement or settlement entered into before or after commencement of the Amendment Act, receive an annual bonus linked to production or productivity in lieu of the profit based bonus are entitled to the bonus under that agreement or settlement, provided the payment does not exceed the statutory cap measured against the salary or wage earned in the relevant accounting year.
Cases where this provision is explicitly mentioned in the judgment/order text; may not be exhaustive. To view the complete list of cases mentioning this section, Click here.
Provisions expressly mentioned in the judgment/order text.
Production linked bonus allowed in place of profit based bonus, subject to a statutory cap on payments.
Employees who, by agreement or settlement entered into before or after commencement of the Amendment Act, receive an annual bonus linked to production or productivity in lieu of the profit based bonus are entitled to the bonus under that agreement or settlement, provided the payment does not exceed the statutory cap measured against the salary or wage earned in the relevant accounting year.
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