Hi, I need help with the following:
From Bonus Act, it can well derived that if an employee getting basic salary of Rs 9000 PM than in that case Rs. 3500 PM should be taken into account for calculation of Bonus. So the calculation of Bonus for an employee who has worked for the entire accounting year will be: Rs.3500 * 12 = 42000*8.33% = Rs. 3,500/- per annum.
If an employee has worked for 5 months in the last financial year, will the bonus calculation be Rs. 3500 *5= 17500*8.33% = Rs. 1458/- or it should be Rs.3500/- as minimum bonus per year.
CAclubindia
