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14 Μαρ 2024 · Learn about the Payment of Bonus Act, 1965, which applies to factories and establishments with 20 or more employees in India. Find out how to calculate the bonus, the eligibility criteria, the rights and duties of employer and employee, and the offences and penalties under the act.
6 Δεκ 2019 · Learn how to calculate profits and bonus for employees under the Payment of Bonus Act, 1965. The article explains the various sections, schedules, adjustments, deductions, and provisions of the Act with examples and references.
This Act provides for the payment of bonus to persons employed in certain establishments in India. It defines the terms, eligibility, calculation, payment and deduction of bonus, and the penalties and procedures related to it.
How To Calculate Bonus | Payment of Bonus Act 1965 | Bonus Calculation Steps - YouTube. Inspired Mate. 13.3K subscribers. 886. 47K views 3 years ago. This video is the 2nd Part of...
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 ...
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. provide machinery for enforcement of liability for payment of bonus. 3.2 Applicability of the Act. Unless it is provided otherwise in this Act, it shall apply to: .
