The Payment of Bonus Act,1965
An Act to provide for the payment of bonus to persons employed in certain establishments on the basis of profits, production, or productivity and for matters connected therewith.
Compliances
- Form A - Computation of the Allocable Surplus
- Form B - Set-on and Set-off of Allocable Surplus
- Form C - Bonus Paid Statement
- Form D - Annual Return Bonus Paid to Employees
Applicability
- Every factory and every other establishment in India in which 20 or more persons are employed on any day during an accounting year.
- Any person (other than an apprentice) employed on a salary or wage not exceeding Rs. 21,000/- p.m. in any industry to do any skilled or unskilled, manual, supervisory, managerial, administrative, technical, or clerical work for hire or reward whether the terms of employment be expressed or implied.
References
Acts & Amendments