Can some explain how Statutory Bonus is calculated? Is it calculated on Basic+DA or Gross(which includes all allowances)? Please share an example.
From India
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2From India
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I would kindly request the questioner to refer to the definition of the terms "salary or wage" under section 2(21), payment of minimum bonus under section 10, and payment of maximum bonus under section 11 of the Payment of Bonus Act, 1965 respectively. First, familiarize yourself with these sections and then raise any doubts relating to the calculation of statutory bonus.
From India, Salem
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From India, Salem
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Amendment to Payment of Bonus Act 2015.jpg
Bigger bonuses for more as Lok Sabha amends Payment of Bonus Act - The Economic Times.pdf
THE PAYMENT OF BONUS ACT.doc