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13 Ιαν 2013 · The document discusses the Payment of Bonus Act 1965 in India. It provides definitions of key terms like bonus and outlines the aims, applicability, eligibility criteria, minimum and maximum bonus amounts under the Act. It also covers the methods to calculate statutory bonus and available surplus, as well as employers' obligations around ...
- The Payment of Bonus act, 1965
Calculation of the Statutory Bonus Statutory Bonus means...
- Payment of bonus_act
The Payment of Bonus Act, 1965 aims to regulate bonus...
- The Payment of Bonus act, 1965
22 Απρ 2018 · Calculation of the Statutory Bonus Statutory Bonus means bonus payable as per statute, i.e., the Payment of Bonus Act. As per the Act, an amount equal to 8.33% of the Basic + Dearness allowance paid to an employee who is eligible for bonus is to be paid irrespective of availability of surplus or profit.
16 Ιουν 2020 · The Payment of Bonus Act, 1965 aims to regulate bonus payments to employees in establishments with 20 or more workers. Key objectives include imposing responsibility on employers to pay bonus, designating minimum/maximum bonus percentages, and prescribing a bonus calculation formula.
EMPLOYERS’ OBLIGATIONS: To calculate and pay the annual bonus as required under the Act. To submit an annul return of bonus paid to employees during the year, in Form D, to the Inspector, within 30 days of the expiry of the time limit specified in section-19 for payment of bonus.
To outline the principles of payment of bonus according to prescribed formula. To provide for payment of minimum (8.33 per cent) & maximum bonus (20 per cent) & linking the payment of bonus with the scheme of “set off” & “set on”. To provide machinery for enforcement of bonus.
The Payment of Bonus Act 1965 came into effect on September 25, 1965 to provide employees of certain establishments the right to receive an annual bonus based on profits or productivity. Key aspects of the Act include that it applies to establishments with 20 or more employees, minimum bonus is 8.33% of wages and maximum is 20%, bonus must be ...
This document provides an overview of the Payment of Bonus Act 1965 in India including: - The act applies to factories and establishments with 20 or more employees. - It defines key terms like accounting year, employee, salary or wage.
