Dear Seniors,
I have few queries, which are :-
CASE 1 : From Bonus Act, it can well derived that if any employee who earns below salary Rs 10000/- is eligible for bonus.
Q. Does the "Term salary below Rs 10000/-" refers to an employee's total monthly Salary ? If yes, will the calculation be based on BASIC salary Head ?
or
Q. Does the "Term salary below Rs 10000/-" refers to an employee's monthly Basic -salary Head ?
Q. Another question is which, I vaguely understand is that - in case of the calculation part, will Rs 3500/- will be taken into account if basic salary is LESS than Rs 3500 ? And what will be the calculation if the basic salary in above Rs 3500 ?
Q. Which institutions are exempted from payment of bonus?
I heard Hospitals, Social welfare institutions, Chambers of the Commerce , Indian Red Cross society or other institutions of a like nature, universities and educational institutions are exempted from payment of Bonus..
I have few queries, which are :-
CASE 1 : From Bonus Act, it can well derived that if any employee who earns below salary Rs 10000/- is eligible for bonus.
Q. Does the "Term salary below Rs 10000/-" refers to an employee's total monthly Salary ? If yes, will the calculation be based on BASIC salary Head ?
or
Q. Does the "Term salary below Rs 10000/-" refers to an employee's monthly Basic -salary Head ?
Q. Another question is which, I vaguely understand is that - in case of the calculation part, will Rs 3500/- will be taken into account if basic salary is LESS than Rs 3500 ? And what will be the calculation if the basic salary in above Rs 3500 ?
Q. Which institutions are exempted from payment of bonus?
I heard Hospitals, Social welfare institutions, Chambers of the Commerce , Indian Red Cross society or other institutions of a like nature, universities and educational institutions are exempted from payment of Bonus..