New Enroll in RBI Grade B New Batch - Starts on May 21

    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

    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.

    Practice Next