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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.
10 Νοε 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, 1965. INTRODUCTION. The practice of paying bonus in India appears to have originated during First World War when certain textile mills granted 10% of wages as war bonus to their workers in 1917. In certain cases of industrial disputes demand for payment of bonus was also included.
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) This Act may be called the Payment of Bonus Act, 1965. It extends to the whole of India 3[***]. Save as otherwise provided in this Act, it shall apply to :- every factory; and. every other establishment in which twenty or more persons are employed on any day during an accounting year.
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 ...
September, 1965] [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]. Be it enacted by Parliament in the Sixteenth Year of the Republic of India as follows,-. Short title, extent and application.
