what is the maximum limit upto which you can pay bonus
Menu
Bonus act
Replies (2)
Where in respect of any AY refered to in Secion 10 of the Payment of Bonus Act,1965 , the allocable surplus exceeds the amount of minium bouns payable to the employees under that section , the employer shall, in lieu of such minimum bonus , be bound to pay to every employee in respect of that AY bonus which shall be an amount in proportion to the salary or wages earned by the employee during the AY subject to a maximum of twenty percent of such salary or wages.
according to PAYMENT OF BONUS ACT
max bonus allowed is
20% OF THE SALARY / WAGES OF THE EMPLOYEE
Recent Topics :
- Late Fees and Interest
- HDFC Bank’s Bureaucracy: The Nightmare of Fl
- Running a CSC Center, Maha E-Seva Kendra, Setu Ken
- GSTR-9 Table 8A issue
- CA Inter Coaching institutes at Hyderabad
- Looking for practising CA
- TDS return filing
- Need formats of FS as per Co act 2013 in soft copy
- Remittance to italy
- Invoice made but goods not sent
Related Topics :
CAclubindia
