14 January 2014
Eligibility of Bonus ********************* An employee will be entitled only when he has worked for 30 working days in that year. {Section 8}
Payment of Minimum Bonus ************************ 8.33% of the salary or Rs.100 (on completion of 5 years after 1st Accounting year even if there is no profit) {Section 10}
Eligible Employees ******************
Employees drawing wages upto Rs.10000.00 per month or less.
For calculation purposes Rs.3500.00 per month maximum will be taken even if an employee is drawing upto Rs.10000 per month. {Section 12}
Time Limit for Payment of Bonus ******************************* Within 8 months from the close of accounting year {Section 19}
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