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Eligibility for getting bonus

This query is : Resolved 
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(Querist)
14 September 2013 Dear Sir,
My friend working as a employee in ICICi lombard general insurance. are they eligible to give any bonus to employees?
thanks and regards
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CA Pallav Singhania

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CA Pallav Singhania (Expert)
14 September 2013 The person whose wages are upto 10000 is eligible for bonus. But amount of bonus is payable on Rs. 3500 only.

For example

(1) If the wages (Basic +DA) is below 3500 suppose 2500 the bonus is calculated on 2500

(2) If the wages (Basic+DA) is 3500, the bonus shall be calculated on 3500

(3) If the wages (Basic+DA) is more than 3500, suppose 3600, the bonus shall be calculated on 3500 only.
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