calculation of bonus

This query is : Resolved

Saurabh (Querist)
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29 October 2009 An employee earning Rs.5000 p.m.

How will be the bonus calculated?
Whether 5000p.m* 8.33%(or applicable bonus rate)
or
2500p.m*8.33%(or applicable bonus rate)

As per act (ref-ICAI module )salary/wage over & above Rs.2500 is not to be considered for calculation of bonus.

Please help me out.

Manmohan ACA, CS

Manmohan ACA, CS (Expert)
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29 October 2009 as per section 10A As per act (ref-ICAI module )salary/wage over & above Rs.3500 (three shousand five hundred) NOT 2500 is not to be considered for calculation of bonus

for if an employee is receiving salary of rs. 5000 p.m.

3500 *12*8.33% * (or applicable bonus rate)