Why 8.33 is fixed as minimum limit for calculation of bonus under bonus act 1965?
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The rationale is to distribute amongst all stakeholders of any economic enterprise/venture a reasonable (may be minimum, fair, proportion/part/share of the earnings from business activities pursued and to motivate the stakeholders to perpetuate their common pursuit for creating wealth.
8.33% works out to one (1) month's earnings (basic wage plus DA component as it were) of a worker eligible for bonus payment.
Kritarth Team
15 Feb 2019
From India, Delhi
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2068.33% works out to one (1) month's earnings (basic wage plus DA component as it were) of a worker eligible for bonus payment.
Kritarth Team
15 Feb 2019
From India, Delhi
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The Payment Of Bonus Act, 1965 5 november 2016.pdf
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Payment of Bonus Act 1965.doc