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?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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