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This Act provides for the payment of bonus to persons employed in certain establishments in India, such as factories and other establishments with 20 or more employees. It defines the eligibility, calculation, payment and deduction of bonus, and the penalties and appeals related to it.
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 ...
10 Νοε 2014 · Find the official documents of the Payment of Bonus Act, 1965 and its amendments, rules and corrigenda. The Act regulates the payment of bonus to eligible employees in certain establishments in India.
Learn about the history, scope, objective, and eligibility for bonus under the Payment of Bonus Act, 1965. The Act covers any establishment with 20 or more employees and provides for the payment of bonus based on profits or production.
This Act amends the Payment of Bonus Act, 1965, to increase the bonus ceiling and minimum wage for scheduled employment. It also clarifies the meaning of scheduled employment and empowers the Central Government to make rules.
The payment of bonus act, 1965. The Indian Parliament in 1965, enacted a new statute called The Payment of Bonus Act 1965. [3] .
25 Απρ 2024 · The Payment of Bonus Act, of 1965 focuses on bonuses. The act serves as a legal mechanism to govern and regulate the distribution of bonuses, ensuring a systematic approach to acknowledging employees' contributions to the overall success and profitability of the business.
