Here's a copied article on the subject
When new boxers hurt their wrists punching, I believe one of the biggest problems is not making a proper fist, most especially, the thumb position. you might review that. check this link:
How to Make a Fist in Boxing | eHow.com
thumb position problems usually show up with wrist injuries about the thumb joint.
Of course that is not the only reason for wrist pain. You may have it bent slightly when making contact with the bag, and it "gives" or bends as you apply force. Try this:
Focus on correct technique. Correct fist, ( wrapped and gloved), straight basic punches with no more than half force. Do this for a few workouts. Make yourself hit easy. You are training technique, focusing on method. Once you can trust your technique to be correct ( Have someone who knows what punching should look like - or videotape yourself and watch it back.) Concentrate on keeping the lower arm straight (from fist to elbow) upon contact. AS you get better at this, begin varying the punches to add some slight angles ( coming at bag from different angles and levels). This can create slight wrist alterations, so start slow and keep it straight. Begin with light force, than progress to harder punching.
Also, if your wrists continue to hurt - stop punching bags for a while and let them heal. Focus on shadow boxing or other boxing fitness. There is no such thing as working through and injury. You will only make it worse.
Good luck and hope this helps you.
sincerely,
EDIT: There was a link here.