Ravi joined Zed Pvt. Ltd. in the year that it was commissioned i.e., 2014. The company did not pay bonus for over 4 years. However, it paid statutory bonus to employees in the year 2018. At the time, Ravi’s basic salary breakup was Rs. 12000 p.m. DA Rs. 9000 p.m. Uniform allowance Rs. 400 p.m., City Compensatory Allowance Rs. 2500 p.m. and Special Hardship allowance Rs. 2000 p.m.   Calculate the bonus that Ravi got if the company distributed bonus at the minimum permissible rate. Also calculate wha

FINANCIAL ACCOUNTING
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ISBN:9781259964947
Author:Libby
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Chapter1: Financial Statements And Business Decisions
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Ravi joined Zed Pvt. Ltd. in the year that it was commissioned i.e., 2014. The company did not pay bonus for over 4 years. However, it paid statutory bonus to employees in the year 2018.
At the time, Ravi’s basic salary breakup was Rs. 12000 p.m. DA Rs. 9000 p.m.

Uniform allowance Rs. 400 p.m., City Compensatory Allowance Rs. 2500 p.m. and Special Hardship allowance Rs. 2000 p.m.

 

Calculate the bonus that Ravi got if the company distributed bonus at the minimum permissible rate.
Also calculate what Ravi would have got if he received bonus at the maximum permissible rate.
(For this calculation, you may disregard the minimum wages stipulated by the State).

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