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30 Αυγ 2021 · Calculation for Bonus payable: (i) If the Monthly basic salary is equal to or less than 21000 , then bonus will be calculated on the actual amount using formula : Step 1. minimum wages of state as per employee skill category and 7000 which ever is lower;
2[An Act to provide for the payment of bonus to persons employed in certain establishments and for matters connected therewith.] BE it enacted by Parliament in the Sixteenth Year of the Republic of India as follows:— 1. Short title, extent and application.—(1) This Act may be called the Payment of Bonus Act, 1965.
21 Σεπ 2020 · The High Court held that where an establishment may not be making profits, Section 10 of the Act mandates payment of minimum bonus @ 8.33 per cent of the earned wages during the whole of the financial year.
Bonus amount payable to an employee under this Act shall be paid in cash by his/her employer within a period of eight months from the close of the accounting year.
impose a statutory obligation on an employer of every establishment covered by the Act to pay bonus to employees in the establishment; lay down principle and formula for calculation of bonus; provide for payment of minimum and maximum bonus and linking the payment of bonus with the scheme of set-on and set-off; and.
13.3K subscribers. 886. 47K views 3 years ago. This video is the 2nd Part of Payment of Bonus Act, in this video i have explained about the Bonus calculation Process in the correct way....
The Payment of Bonus Act, 1965 provides for a minimum bonus of 8.33 percent of wages. The salary limited fixed for eligibility purposes is Rs. 3,500 per month and the payment is subject to the stipulation that the bonus payable to employees drawing wages or salary not exceeded to Rs.10000 per month would be calculated as if their salary or ...
