Eligibility for getting bonus

This query is : Resolved

shashidhar (Querist)
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14 September 2013 Dear Sir,
My friend working as a employee in ICICi lombard general insurance. are they eligible to give any bonus to employees?
thanks and regards

CA Pallav Singhania

CA Pallav Singhania (Expert)
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14 September 2013 The person whose wages are upto 10000 is eligible for bonus. But amount of bonus is payable on Rs. 3500 only.

For example

(1) If the wages (Basic +DA) is below 3500 suppose 2500 the bonus is calculated on 2500

(2) If the wages (Basic+DA) is 3500, the bonus shall be calculated on 3500

(3) If the wages (Basic+DA) is more than 3500, suppose 3600, the bonus shall be calculated on 3500 only.