24 October 2024
No. In 2010, the Supreme Court of India ruled that the calculation of bonus should be based on the minimum wages as stipulated under the Minimum Wages Act.
25 October 2024
In fact actual salary cannot be lower of minimum wage. Secondly why to calculate based on 12%, the bonus act says minimum bonus should be 8.33% while max. can be upto 20%.
25 October 2024
If in case allocable surplus exceeds minimum bonus do we mandatorily need to pay maximum bonus, or can we pay at a percentage higher than minimum bonus and lower than maximum bonus if the workers agree to it
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