Can some explain how Statutory Bonus is calculated? Is it calculated on Basic+DA or Gross(which includes all allowances)? Please share an example.
From India
I would request the questioner to refer to the definition of the term " salary or wage " u/s 2(21), payment of minimum bonus u/s 10 and payment of maximum bonus u/s 11 of the Payment of Bonus Act,1965 respectively first and then raise any doubts relating to the calculation of statutory bonus.
From India, Salem
If the minimum wages is less than 7000 thousand for example 6500 Rs. In this case which amount to be paid to employee for minimum bonus. Kindly suggest me in this regards
From India

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