Dear colleagues,
As per section 12 of the payment of bonus act, 1965, should bonus be calculated as 8.33% of salary or wages with a maximum consideration of 7000 rupees or the minimum wages specified for that state. Has the ceiling amount revised to 21,000 rupees, such that "bonus be calculated as 8.33% of salary or wages with a maximum consideration of 21,000 rupees or the minimum wages specified for that state"?
If yes, kindly send me the legal attachments for the same, your help in this matter is highly appreciated.
From India, Bengaluru
3As per section 12 of the payment of bonus act, 1965, should bonus be calculated as 8.33% of salary or wages with a maximum consideration of 7000 rupees or the minimum wages specified for that state. Has the ceiling amount revised to 21,000 rupees, such that "bonus be calculated as 8.33% of salary or wages with a maximum consideration of 21,000 rupees or the minimum wages specified for that state"?
If yes, kindly send me the legal attachments for the same, your help in this matter is highly appreciated.
From India, Bengaluru
The notification is attached for your understanding and interpretation to abide by.
From India, Mumbai
From India, Mumbai
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