Short Essay on Payment of Bonus

The employees who are employed on a salary or wage not exceeding ten thousand rupees per month and have worked for more than 30 days in an accounting year are eligible for bonus at the rate of a minimum of 8.33% of his yearly salary or wages, even if there is a loss incurred by the employer. The employees of the certain public sector or government sector undertakings are also eligible for bonus.

Bonus is actually a kind of incentive to motivate the employees to work better and thereby increase the productivity and profitability of an establishment.

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