Bonus act

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