This Payout Bonus Disbursement Policy ("Policy") is established by E Biotorium Network Private Limited ("Company") and governs the terms and conditions under which payouts will be disbursed to Distributors or Direct Sellers engaged in direct selling activities. By participating in the Company’s direct selling network, Distributors agree to be bound by the provisions outlined herein.
The payout cycle shall occur every 12 hours ("Payout Cycle"), with payouts being processed at the conclusion of each cycle.
E Biotorium Network Pvt. Ltd. has 2 business cycles for 12 hours each. Payouts shall be released on the 4th day for the previous 3 days cycle, subject to banking hours and working days, contingent upon the operational hours of the relevant bank and any applicable holidays.
Any delays in the disbursement of payouts due to circumstances beyond the control of the Company, including but not limited to banking delays, technical failures, or unforeseen banking holidays, shall not be construed as a breach of this Policy. The Company shall endeavour to ensure timely payouts, but shall not be liable for such delays.
Payouts shall be subject to Tax Deducted at Source (TDS) as mandated by applicable tax laws as per Income Tax Act, 1961. The Company shall deduct TDS on the earnings of the Distributor prior to the release of any payout, at the rates applicable under the law.
It is the Distributor’s or Direct Seller’s responsibility to comply with Income Tax Act, and fulfil their tax obligations. The Company shall not be responsible for the Distributor's or Direct Seller’s tax liabilities beyond the TDS deduction.
The Company shall issue a TDS certificate (26as) to the Distributor or Direct Seller in the prescribed format as Income Tax Act, reflecting the amount of TDS deducted for each fiscal year, which is also available on the Income Tax portal after individual login.
The distributor or Direct seller must register under GST if their aggregate annual turnover exceeds as per GST Law of your state.
The Company reserves the right to amend, modify, or update this Payout Bonus Disbursement Policy at any time, at its sole discretion. Any such amendments shall be communicated to the Distributors or Direct the Company’s website: www.biomagneticmattress.com
Any amendments to this Policy shall become effective on the date specified in the notification or posting of the amended Policy, and all payouts thereafter shall be governed by the updated terms.
This Policy shall be governed by and construed in accordance with the laws of India.
Any dispute arising out of or in connection with this Policy, including but not limited to the interpretation, enforcement, or breach thereof, shall be resolved through Arbitration in accordance with the provisions of the Arbitration and Conciliation Act, 1996. The venue for arbitration shall be Mumbai/ Thane, and the language of arbitration shall be English.
The Company shall not be liable for any delay or failure to perform its obligations under this Policy if such delay or failure is caused by events or circumstances beyond its reasonable control, including but not limited to natural disasters, war, strikes, or governmental actions.
This Policy constitutes the entire agreement between the Company and the Distributor or Direct Seller concerning payout disbursements and supersedes all prior agreements or understandings, whether written or oral, relating to this subject matter.