bonus act 1965
This query is : Resolved
06 March 2011
dear friends,
pls confirm me under bonus act 1965 if the allocable surplus is greater than minimum bonus payable i.e(8.33%) is it Compulsarily an employer has to pay the bonus at the rate of 20%.or is it enough if he pay minimum bonus
thanks in advance
pls confirm me under bonus act 1965 if the allocable surplus is greater than minimum bonus payable i.e(8.33%) is it Compulsarily an employer has to pay the bonus at the rate of 20%.or is it enough if he pay minimum bonus
thanks in advance
06 March 2011
Neither of the above two.
You have to calculate the new rate by using formula = Allocable surplus/ wages
But this % can't exceed 20% i.e. maximum bonus.
You have to calculate the new rate by using formula = Allocable surplus/ wages
But this % can't exceed 20% i.e. maximum bonus.
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06 March 2011
https://www.caclubindia.com/forum/the-payment-of-bonus-act-1965-faq-106912.asp
Also see above link for more details.
Also see above link for more details.
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