Section 12 of POB Act, 1965 : Section 12: Calculation Of Bonus With Respect To Certain Employees
POB Act, 1965
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Explanation using Example
Imagine a company named "Tech Innovations" has an employee, Rahul, whose monthly salary is ₹10,000. According to The Payment of Bonus Act, 1965, when calculating Rahul's annual bonus, the company must consider his salary as ₹7,000 or the minimum wage for Rahul's type of scheduled employment set by the government, whichever is higher. If the minimum wage for Rahul's role is ₹8,000, the company will calculate his bonus based on ₹8,000. However, if the minimum wage is ₹6,500, the calculation will be based on ₹7,000, as it is the higher amount.
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