Dear Friends,
Please see the enclosed statement for Bonus Provision made easy. Based on this statement, you can calculate the bonus provision for employees. As per the amendment of the Bonus Act, the ceiling limit is Rs. 10,000, with a minimum of 8.33%. Based on management interest, employees above the ceiling limit will consider their bonus as Ex gratia Payment. That payment may not exceed Rs. 10,000.
Regards,
PBS KUMAR
Please see the enclosed statement for Bonus Provision made easy. Based on this statement, you can calculate the bonus provision for employees. As per the amendment of the Bonus Act, the ceiling limit is Rs. 10,000, with a minimum of 8.33%. Based on management interest, employees above the ceiling limit will consider their bonus as Ex gratia Payment. That payment may not exceed Rs. 10,000.
Regards,
PBS KUMAR
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