Dear Friends,
The calculation of Bonus under payment of Bonus Act given by Anil anand is not correct.
The act has been amended much earlier.
Now the employee coverable wage limit is Rs. 10,000 and not Rs.3500/ per month which means employees drawing salary up to Rs. 10,000 will be eligible for bonus.
The calculation will be done as if employee is drawing salary of Rs. 3500/ and not Rs.2500. as mentioned in posting.
Regds
anil kaushik
The calculation of Bonus under payment of Bonus Act given by Anil anand is not correct.
The act has been amended much earlier.
Now the employee coverable wage limit is Rs. 10,000 and not Rs.3500/ per month which means employees drawing salary up to Rs. 10,000 will be eligible for bonus.
The calculation will be done as if employee is drawing salary of Rs. 3500/ and not Rs.2500. as mentioned in posting.
Regds
anil kaushik