New Enroll for RBI, PFRDA & NABARD Intro Class! April 18 at 9:15 PM

    Question

    According to Section 32 of the Code on Wages, 2019, who

    is responsible for prescribing the manner in which the gross profits of a banking company are calculated for the purpose of bonus calculation?
    A The Central Government Correct Answer Incorrect Answer
    B The State Government Correct Answer Incorrect Answer
    C The Reserve Bank of India Correct Answer Incorrect Answer
    D The establishment's management Correct Answer Incorrect Answer

    Solution

    Explanation: As per Section 32- The gross profits derived by an employer from an establishment in respect of the accounting year shall,–– (a) in the case of a banking company, be calculated in the manner as may be prescribed by the Central Government; (b) in any other case, be calculated in the manner as may be prescribed by the Central Government.

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