What is a Statutory Bonus in Salary

Description: A statutory bonus is a mandatory bonus that employers must pay to eligible employees under the Payment of Bonus Act, 1965 in India. It is a financial reward based on an employee's salary and the company's profitability. 1. Eligibility: Employees earning up to ₹21,000 per month. 2. Bonus Range: 8.33% to 20% of annual salary. 3. Calculation: Based on company profits and employee salary. Learn more about statutory bonuses and how they impact employee earnings! ???? ????https://www.nitsotech.com/blog/statutory-bonus/

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