While calculating 8 33 as minimum bonus for those who have completed more than fifteen years of age ...........

Industrial Relation and labour law Labour Laws -II

While calculating 8.33% as minimum bonus for those who have completed more than fifteen years of age under the payment of bonus act, the amount should not be less than:

Rs. 60

Rs. 100

Rs. 500

Rs. 1000 Employers provident funds and miscellaneous provisions act, 1952

छोटे Courses बड़े Results

Master Labour Laws -II

Prepare through Micro-courses

Try Now

Explanation:

Rs. 100.

The objective of the Payment of Bonus Act is to reward the employee of the organization by sharing the profits earned and is linked to productivity.The Payment of Bonus Act is applicable to any establishment with 20 or more employees or any factory with 10 or more employees.Employees drawing ?21000 per month or less (basic + DA, excluding other allowances) and have completed 30 working days in that financial year are eligible for bonus payment.Employees can be disqualified from bonus payments if they are dismissed on the basis of fraud, misconduct, or even absenteeism. Please ensure that on dismissal, the procedures of domestic enquiry, proper documentation and employee acceptance of the misconduct are all carried out as per the standing orders before disqualifying the bonus payment.