Generally, we are getting the application path using Application.StartupPath. It will return the path of the executable file that started the application.

The Bin folder contains Release folder there I created a folder named images and save the icon image, So that we can access from the folder as we wish. 

string imgpath = Path.Combine(Application.StartupPath, @"images\infi.ico");
NotifyIcon trayIcon = new NotifyIcon();
trayIcon.Icon =
new Icon(imgpath);

Get the icon from the Image folder: