You can get the details by doing search option available at top of this page. Further if you are not satisfied then you can check the side bar in the right sice where you can find the relevant threads which were discussed earlier.
Statutory Bonus is mainly concerned for workmen category, who comes under Contract Labour Act / minimum wages Act. You please dont compare your salary for Bonus. Salary of the minimum wages workmen is comparatively low and Rs. 3,500/- is good amount for them. Earlier, Bonus applicable to the employees whose basic was Rs. 3,500/-, however, it has been enhanced to Rs. 10,000/- in the year 2007 for covering more employees (enenthough the ceiling limit is 3,500/-)
Computation of bonus should be worked out as per schedule I to IV of the Act. Every person drawing salary between Rs3500/- and Rs10,000/- per month. The bonus payable to him is to be calculated as if his salar were Rs3500/- p.m.
Till date there is not any enanchement to Rs 5000/-pm.
Thanks & Regards
V K Sharma
Dept of Accounts
TPL, RSP, Rourkela
Why Vote? User validation is extremely important for good content to prosper.