An employee working in an establishment draws a monthly wage of Rs 9 000 as fixed under the Min...........

Industrial Relation and labour law Labour Laws -II

An employee working in an establishment draws a monthly wage of Rs 9,000 as fixed under the Minimum Wages Act, 1948 and is eligible to get bonus under the Payment of Bonus Act, 1965 for the accounting year 2021-22. The bonus payable is at the rate of 10%. If the employee has worked continuously for whole of the said accounting year, then what is the amount of bonus that shall be paid to the employee?

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EPFO APFC 2023

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Rs 7,000

Rs 8,400

Rs 10,000

Rs 10,800

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Explanation:

Under the Payment of Bonus Act, 1965, the typical calculation uses a wage ceiling. However, in some cases, it may consider the actual wages if exceeding the ceiling is permissible or applicable as changing policy suggests.

- Actual monthly wages: Rs 9,000

- Annual eligible amount based on the change: Rs 9,000 x 12 = Rs 1,08,000

- Bonus rate: 10%

Therefore, the bonus is:

Bonus = 10% of 1,08,000 = Rs 10,800

Answer: Option 4 - Rs 10,800