1
[10. Payment of minimum bonus.—Subject to the other provisions of this Act,
every employer shall be bound to pay to every employee in respect of the
accounting year commencing on any day in the year 1979 and in respect of
every subsequent accounting year, a minimum bonus which shall be 8.33 per
cent of the salary or wage earned by the employee during the accounting year or
one hundred rupees, whichever is higher, whether or not the employer has any
allocable surplus in the accounting year:
Provided that where an employee has not completed fifteen years of age at
the beginning of the accounting year, the provisions of this section shall have
effecting relation to such employee as if for the words “one hundred rupees”, the
words “sixty rupees” were substituted.]
2
[11. Payment of maximum bonus.—(1) Where in respect of any accounting
year referred to in section 10, the allocable surplus exceeds the amount of
minimum bonus payable to the employees under that section, the employer shall,
in lieu of such minimum bonus, be bound to pay to every employee in respect of
that accounting; year bonus which shall be an amount in proportion to the salary
or wage earned by the employee during the accounting year subject to a
maximum of twenty per cent, of such salary or wage.
From India, Vadodara
366[10. Payment of minimum bonus.—Subject to the other provisions of this Act,
every employer shall be bound to pay to every employee in respect of the
accounting year commencing on any day in the year 1979 and in respect of
every subsequent accounting year, a minimum bonus which shall be 8.33 per
cent of the salary or wage earned by the employee during the accounting year or
one hundred rupees, whichever is higher, whether or not the employer has any
allocable surplus in the accounting year:
Provided that where an employee has not completed fifteen years of age at
the beginning of the accounting year, the provisions of this section shall have
effecting relation to such employee as if for the words “one hundred rupees”, the
words “sixty rupees” were substituted.]
2
[11. Payment of maximum bonus.—(1) Where in respect of any accounting
year referred to in section 10, the allocable surplus exceeds the amount of
minimum bonus payable to the employees under that section, the employer shall,
in lieu of such minimum bonus, be bound to pay to every employee in respect of
that accounting; year bonus which shall be an amount in proportion to the salary
or wage earned by the employee during the accounting year subject to a
maximum of twenty per cent, of such salary or wage.
From India, Vadodara
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From India, Lucknow
From India, Lucknow
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Bonus Calculation Sheet-2016-17-R ev..xls