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Changes in Outstanding Expenses

What is the m...

Question

What is the minimum and maximum Bonus under the "Payment of Bonus act 1965".

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Solution

The minimum bonus of 8.33% is payable by every industry and establishment under section 10 of theAct. The maximum bonus including productivity linked bonus that can be paid in any accounting year shall not exceed 20% of the salary/wage of an employee under the section 31 A of the Act.

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The sales manager of a company awarded a total of

$ 3000

in bonuses to the most productive sales people. The bonuses were awarded in amounts of

$ 250

$ 750

. If at least one

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bonus and at least one

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bonuses awarded?

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Changes in Outstanding Expenses

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