According to the Payment of Bonus Act, 1965, which of the following holds true?

A. A minimum bonus which shall be 9.33% of the salary or wages earned by the employee during the accounting year or one hundred rupees, whichever is higher

B. Every employer shall be bound to pay to every employee in respect of the accounting year commencing on any day in the year 1978

C. Aminimum bonus which shall be 8.33% of the salary or wages earned by the employee during the accounting year or one hundred rupees, which ever is higher

D. It will be paid only if the company has any allocable surplus in the accounting year

Answer: Option C