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THE PAYMENT OF BONUS ACT, 1965 ACT NO. 21 OF 11965 [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.
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 ...
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.
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.
1. The Payment of Bonus Act, 1965. Download (642.71 KB) 2. The Payment of Bonus Rules, 1975. Download (33.4 KB) 3. Payment of Bonus (Amendment) Ordinance, 2007.
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
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; provide for payment of minimum and maximum bonus and linking the payment of bonus with the scheme of set-on and set-off; and.
