Hi Friends,
Recently my company has paid statutory bonus. They said its is an arrear payment for the year 2015 to 2016 as Government made some changes for bonus act back then.
So I would like to understand how is this statutory bonus payment calculated?
Would i be eligible for this payment again?
Is this calculated on Basic salary or CTC or Take Home Salary?
Please advise.
From India, Bangalore
Recently my company has paid statutory bonus. They said its is an arrear payment for the year 2015 to 2016 as Government made some changes for bonus act back then.
So I would like to understand how is this statutory bonus payment calculated?
Would i be eligible for this payment again?
Is this calculated on Basic salary or CTC or Take Home Salary?
Please advise.
From India, Bangalore
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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