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An employee engaged in an industrial establishment draws wages of Rs. 20,500 per month. What is the amount of bonus to be paid to him if it is paid at the rate of 10% by the employer for an accounting year under the Payment of Bonus Act, 1965?

An employee engaged in an industrial establishment draws wages of Rs. 20,500 per month. What is the amount of bonus to be paid to him if it is paid at the rate of 10% by the employer for an accounting year under the Payment of Bonus Act, 1965? Correct Answer Rupees eight thousand four hundred only

Related Questions

Which of the following statements are true/ false?
1. Every employer shall be bound to pay to every employee in respect of the accounting year commencing on any day in the year 1979 and in respect of every subsequent accounting year, a minimum bonus which shall be 9.33% of the salary or wages earned by the employee during the accounting year or one hundred rupees, whichever is higher, whether or not the employer has any allocable surplus in the accounting year.
2. Bonus will be paid in cash to the employees.
3. If the allocable surplus exceeds the amount of minimum bonus payable to the employees, the employer is bound to pay to every employee in respect of that accounting year bonus which shall be an amount in proportion to the salary or wages earned by the employee during the accounting year subject to a maximum of 10% of such salary or wage.
4. Bonus needs to be paid within a period of eight months from the close of the accounting year.
Which of the following statements are true/false?
1. In case an employee whose minimum rate of wages is fixed under this Act, works overtime, the employer need not pay the money for the extra hours devoted by the employee.
2. If an employee whose minimum rate of wages has been fixed under this Act, works for a less number of hours than the requisite number of hours on a given day, he shall be entitled to receive wages in respect ofwork done by him on that day as ifhe had worked for a full normal working day.
3. In case an employee is involved in two or more classes of work, he shall be paid on the basis of pieces involved.
4. If an employee is employed on piece work for which minimum time rate and not a minimum piece rate has been fixed under this Act, the employer shall pay to such employee wages at not less than the minimum time rate.
An employee engaged in an industrial establishment draws wages on Rs. 20,000 per month. What is the amount of bonus he shall be entitled to, if it is to be paid at the rate of 9% by the employer for an accounting year under the provisions of the Payment of Bonus Act, 1965?
Which of the following statements are true/false?
1. The employer needs to maintain a register of the employees working under him. This register needs to be preserved for a period of two years after the date of the last entry made therein.
2. In case of a person who is working in any railway factory or industrial or other establishment upon or in which more than one thousand persons are employed, the wages need to be paid by tenth of that month.
3. In case of a person who is working in any railway factory or industrial or other establishment upon or in which less than one thousand persons are employed, the wages need to be paid by third of that month.
4. In case, an employer terminates an employee, the wages earned by him must be paid before the expiry of the second working day from the day on which his employment is terminated.
Which of the following is correct in context of Minimum Wages Act, 1948?
1. In case an employee whose minimum rate of wages is fixed under this act, works overtime, the employer is bound to pay the money for the extra hours devoted by the employee.
2. In case an employee is involved in two or more classes of work, he shall be paid on the piece basis.
3. If an employee is employed on piece work for which minimum time rate and not a minimum piece rate has been fixed under this act, the employer shall pay to such employee wages at not less than the minimum time rate.
Which of the following statements are true/false?
1. Gratuity shall be payable to an employee on the termination of his employment after he has rendered continuous service for not less than five years.
2. Each employee, who has completed one year of service, shall make nomination for the purpose of receiving gratuity.
3. For every completed year of service in excess of six months, the employer shall pay gratuity to an employee at the rate of fifteen day's wages based on the rate of wages last drawn by the employee concerned.
4. An employer who contravenes, or makes default in complying with, any of the provisions of the Payment of Gratuity Act shall be punishable with imprisonment for a term which may extend to one year, or with fine which may extend to twenty thousand rupees, or with both.
A company paid Rs. 6,00,000 as bonus to its employees at different levels A, B and C. Each employee at level A receives one and half times of the amount that was paid to each employee at level B and each employee at level B was paid twice the amount paid to the employee at level C. If 50 employees were on level A, 75 on level B and 100 on level C, how much amount was paid to each employee of level A ?
An employee working in an organisation draws a salary of Rs. 20,000 per month. What is the amount of bonus that he shall be paid at the minimum rate of 8.33% under the Payment of Bonus Act, 1965?
An employee is employed in an industry on a wage of rupees eight thousand and five hundred per month, which is fixed as the minimum wage as a scheduled employment by the appropriate government. What is the amount of bonus he shall be entitled to, if it is to be paid at the minimum rate of 8.33% by the employer under the Payment of Bonus Act, 1965?
Which of the following statements are true/false?
1. In exercise of the powers conferred by Section 13 of the Equal Remuneration Act, 1976, the Central Government came out with the rules.
2. The claims for the complaints with regard to the contravention of any provision of the Equal Remuneration Act, 1976 need to be made in triplicate in the Form A to the authority.
3. Every employee is entitled to payment of bonus if he has worked in the establishment for not less than twenty working days in that year.
4. Payment of Bonus Act is applicable to ever establishment in which thirty or more persons are employed on any day during an accounting year.