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payment of bonus act

This query is : Resolved 
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(Querist)
29 August 2008 hello experts
plz tell me current bonus act provisions for audit purpose of F.A.2007-08
i have heared that
1.bonus is to b given to each employee whose basic rate is upto rs.10000
2.but bonus is to b calculated on rs.3500
or less than rs3500(if basic is less)
ex.if employee basic rate is rs.8000 then he will b given complusory bonus on rs3500
n ex gratia on rs.4500(if co. wants )
if employee basic rate is rs.12000 then he will not b entitled to cumplsory bonus but only exgratia if co.wants

plz tell me am i correct
thankx
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S.Srinivasaraghavan

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S.Srinivasaraghavan (Expert)
30 August 2008 Yes.
Exgratia is only if the company desires.
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