Dear Sir/ Madam,
As we all know the minimum rate of Bonus is 8.33% & maximum rate is 20% under Payment of Bonus Act. I would like to ask a question- Can a company pay any percentage of bonus (say 12% or 15% or 17%) between Minimum rate & Maximum Rate under Payment of Bonus Act or company only eligible to pay 8.33% or 20% bonus under Payment of Bonus Act ???
As we all know the minimum rate of Bonus is 8.33% & maximum rate is 20% under Payment of Bonus Act. I would like to ask a question- Can a company pay any percentage of bonus (say 12% or 15% or 17%) between Minimum rate & Maximum Rate under Payment of Bonus Act or company only eligible to pay 8.33% or 20% bonus under Payment of Bonus Act ???