Amendment status not verified — confirm the current text below against the official source.
2 3 Iho.words "and _includcs a|y amoftrt tr€aled as such under liub{iection (2) ot srction 4,, omitted bv Act 23 oI 19?6, sec. {(axii) (\t Let 2'_g-1g75) lns. by Act 23 a( 1976, sec 4(b) (w..e.f 25_9_1975) Ins. hv Act 66 of t980, cec Z(bj (w r e t. tt-8-t980) me Payn cnt ol Bonus Act' l 5 (S€c. 2 01) {12) i l'}) (14) thnn atr n:itabllshment in Publif, sPdor; *uior"il*r,rnr"ort in pubtic sret$r,' m*ilns an fglnbli$lwfnl (}l{,n{rii. {.{.1 (b) an forly.per ccul ol ih; caPitnl togcthcr) t'Y- (i) the Governmcnl; or liii tte Reserue Bank of India; or liiii " corporation owned by the Govemment or the Reserve l (ii) the Reserve banx or urqra; rrr (iiii " .otpot"tion owned by the Government or the Reserve: Bank of Indla; i. s"o" w i.ie.r 2016, scc 2, for "tcn tirousa^d rup ewordsi ... ., ' r -.----.., .-.^-- -..L.rih,+-l hv a.r 45 of and fiveli implied; "erirploycr" ineludes* ilil'iiitr: ted ruPees weft hundrcd rup€es' substitutcd by Act 67 ot l9tD, eec 2, ror rne worqs '"' -'---"* --'- - - hundrcd (w.r.e.f.7-11-1985) The Pavment ol Bonus Act. t965 (17) " faclory" shall have the same meaning as in clause (nr) o[ section 2 of the Factories Act, 1948 (63 oI 7948\; (18) "gross profits" means the gross profits calculated under section 4; (19) "Income-tax Act" means the Income-tax Act, 1961, (43 of 1961); (20) "prescribed" means prescribed by rules made under this Act; (2-l) "salary or wage" mearu all remuneration (other than remuneration in respect of over-time work) capable of being expressed jn terms of money, which would, if the terms of cmployment, express o. implied, were fulfilled, be payable to an employee in respect of his employment or of work done in such employment and includes dearness allowance (that is to say, all cash payments, by whatever name called, paid to an employee on account of a rise in the cost of hving), but does nol include- (i) any other allowance which the employee is for the time being enfitled to; (ii) the value of any house accommodation or of supply of light, water, medical attendance or other amenity or of any service or of any concessional supply of foodgrains or other articles; ( iii) any travellint concession; (iv) any bonus (including incentive, production and attendance bonus); (v) any contribution paid or Payable by the employer to any pension fr.rnd or provident fund or for the benefit of the employee under any law for the time being in force; (vi) anv retrenchment compensation or any gratuity or other retirement benefit payable to the employee or any ex Sratio Payment made to him; (vii) any commission payable to the emPloyee. Explanntion.-lNhere an employee is given in lieu of the whole or part of the salary or w^Ee paybble to him, free food allowance or free food by his employer, such food allowance or rhe value of such food shall, fot the purpose of this clause, be deemed to fonn part of the salary or wage of such employee; COMMENTS (i) l-,ry-off comperEation ii included in dre term of "salary" or "wngcs"; Mohqn Xumnr v Det'ul_v LALout CommissioncL (1991) 62 FLR 903 (Ker). (ri) Deamess altrowance and city comPensatory allowance are lncltlded in the dciinitior oI "sn[^ry" o. "wages" undcr section 2 (21) of the Act; S Krishnamwthy v Pt?sidinq Ofirtt, Iabo r Cou+, 0986\ 55 FLR 535. (iii) Dearncss allolA'ance is d pnrt and parccl o( wages; S.inlia Naoigalion Co I'td v Stindia Employees Ution, (1963) 2 t,t.N 61, (iv) Retainnrt allowance comes within the purview of 3eclion 2 (21L Challhnn Vidltttt Seltkati Lldvoi v. Goocrnmenl Ltbow Offcct, AIR l98I SC 905 (v) RemuneraLjon in case of overtimo work and conrmission Payable to employees arc exclrrded from the definition of "sala ry" or "wdqcs"; AMnrlxt Vollas I volpnrt Emplovecs' Fuhntnn \ voltns Lld , 1973 bb IC 645. (vi) Ovprtime allowance does not form pa.t of "w'ages"; AssocQtcd Cedenl Co Lld 1J ThPtr Wartnrr'r. AIR 1q59 SC 925 (22) wo'd.s and expressions used but not define.d in this Act and defined in the lndustiial Disputes Act, 1947 (I4 of 1947)' shall have the mcanings resPectively assigned to them in that Act