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[25th September, 1965.] 2[An Act to provide for the payment of bonus to persons employed in certain establishments and for matters connected therewith.] BE it enacted by Parliament in the Sixteenth Year of the Republic of India as follows:— 1. Short title, extent and application.—(1) This Act may be called the Payment of Bonus Act, 1965.
With a view to implement the recommendations of the Commission as accepted by the Government, the Payment of Bonus Ordinance, 1965, was promulgated on 29th May, 1965. The object of the Bill is to replace the said Ordinance. The notes on clauses explain the various provisions of the Bill. ACT 21 OF 1965.
The Payment of Bonus Act, 1965 provides for a minimum bonus of 8.33 percent of wages. The salary limited fixed for eligibility purposes is Rs. 3,500 per month and the payment is subject to the stipulation that the bonus payable to employees drawing wages or salary not exceeded to Rs.10000 per month would be calculated as if their salary or ...
An Act to provide for the payment of bonus to persons employed in certain establishments and for matters connected therewith. Ministry: Ministry of Labour and Employment
The Payment of Bonus Act, 1965. [Sec. 1. any day in the year 1968 and every subsequent accounting year, shall, in relation to such establishment or class of establishments, be construed as a reference to the ilCCounting year specified in such notification and every subsequent i.1Ccounting year.]
Nov 10, 2014 · Payment of Bonus (Amendment) Rules, 2019. Download (301.33 KB) The Ministry of Labour & Employment is one of the oldest and important Ministries of the Government of India.|Government of India.
The Payment of Bonus Act of 1965 imposes a contractual obligation on employers to pay bonuses to employees in proportion to the resources available for the establishment's smooth functioning.
Dec 6, 2019 · In this article various sections of The Payment of Bonus Act, 1965 are explained. Introduction. Establishment to include department, undertakings, and branches. Computation of Gross profit. Computation of available surplus. Sum deductible from gross profits. Calculation of direct tax payable by the employer. Eligibility for bonus.
The Payment of Bonus Act, 1965 has undergone several amendments. This Act extends to the whole of India The Act is designed to: impose a statutory obligation on an employer of every establishment covered by the Act to pay bonus to employees in the establishment; lay down principle and formula for calculation of bonus;
THE PAYMENT OF BONUS ACT, 1965. ACT NO. 21 OF 1965. [25th September, 1965.] 1*[An Act to provide for the payment of bonus to persons employed in certain establishments on the basis of profits or on the basis of production or productivity and for matters connected therewith.]
