PT man page says,
In bc_wc analysis mode, the -min and -max options specify the corner
for the clock latency value (fast or slow), and the -early and -late
options specify the early or late latency value within the corner. In
the on_chip_analysis mode, the min/max operating conditions are the
variation bounds within the single corner analysis. Therefore, only the
min-early and max-late latencies are used for the analysis. In the
on_chip_variation mode, it is sufficient to specify either the
-early/-late options or the -min/-max options for the set_clock_latency
command.