Dear Sir, can you tell me how much sealing of the bonus and what is minimum limit for the employer which are payable to employee in a one year working period.
From India, Gurgaon
8From India, Gurgaon
1. The Act enables the employees to get a minimum bonus equivalent to one month's salary or wages (8.33% of annual earnings) whether the employer makes any profit or not. But the Act also puts a ceiling on the bonus and the maximum bonus payable under the Act is equivalent to about 2 1/2 months' salary or wage (20% of annual earnings).
2. It is to be noted that employees drawing salary or wage exceeding Rs. 10000.00 per month are not entitled to get any bonus under the Act. (w.e.f. 1 April 2006)
3. An employee will be entitled only when he has worked for 30 working days in that year. {Section 8}
From India, Chennai
2. It is to be noted that employees drawing salary or wage exceeding Rs. 10000.00 per month are not entitled to get any bonus under the Act. (w.e.f. 1 April 2006)
3. An employee will be entitled only when he has worked for 30 working days in that year. {Section 8}
From India, Chennai
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