How much calculate diwali bonus rules private employees 2017?
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According to the Payment of Bonus Act 1965, it is required for every factory and other establishments in which 20 or more persons are employed on any day during an accounting year, to pay a festival bonus during Diwali festival in India.
The Cabinet had decided to double the wage ceiling for calculating the bonus for the workers at an establishment.Factory workers will be receiving a bonus pay calculated to Rs. 7,000/- per month, from the previous Rs. 3,500/-.
At present, under Section 12, where the salary or wage of an employee exceeds Rs. 3,500 per month, the minimum or maximum bonus payable to employees are calculated as if his salary or wage were Rs. 3,500 per month.
For other employees, it has been raised from Rs. 10,000/- to Rs. 21,000/- calculation per month.
The Cabinet had decided to double the wage ceiling for calculating the bonus for the workers at an establishment.Factory workers will be receiving a bonus pay calculated to Rs. 7,000/- per month, from the previous Rs. 3,500/-.
At present, under Section 12, where the salary or wage of an employee exceeds Rs. 3,500 per month, the minimum or maximum bonus payable to employees are calculated as if his salary or wage were Rs. 3,500 per month.
For other employees, it has been raised from Rs. 10,000/- to Rs. 21,000/- calculation per month.
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