A statutory bonus is a payout that is required by law. The payment of a statutory bonus under the Payment of Bonus Act 1965 is a matter of entitlement for the employee, not of choice for the employer.
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New labour codes: Does your salary & wage definition, PF contribution, ESI, gratuity payout & bonus change? Explained
New labour codes 2025 decoded: The government has introduced new labour codes that have wide-ranging implications for your salary structure, provident fund contributions, bonus payout, ESI benefits, ...
New labour codes are set to redefine wage calculations, impacting salary structures, PF contributions, and gratuity payouts. The broader definition of 'wages' means more components will be included, ...
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