Explanation:

Rs 10000

• A minimum bonus of 8.33% and the maximum is 20% of wages is payable
• Statutory Bonus is payable within 8 months from the close of the accounting year
• Payable to all employees whose wages do not exceed Rs. 21,000 per month
• If employee’s wages equal to or more than Rs. 7,000 or the minimum wages fixed by the Government then the bonus is paid as per employee’s wages