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
2From India
I would request the questioner to refer to the definition of the term " salary or wage " u/s 2(21), payment of minimum bonus u/s 10 and payment of maximum bonus u/s 11 of the Payment of Bonus Act,1965 respectively first and then raise any doubts relating to the calculation of statutory bonus.
From India, Salem
From India, Salem
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Amendment to Payment of Bonus Act 2015.jpg
Statutory Compliance of a Industrial or Commercial Unit.xls
Bonus act amendment gazette copy.pdf