The PAYMENT OF BONUS ACT, 1965
haryana · 1965
- S. 1Section 1 of the Payment of Bonus Act, 1965 specifies the calculation of bonus for companies based on dividends, equity share capital, and reserves.
- S. 2Definitions
- S. 3Add back also: (a) Bonus paid to employees in respect See foot-note (1) of previous accounting years
- S. 4Section 4 specifies that income credited to reserves, excluding capital receipts, foreign business profits, and foreign investments, is included in bonus calculations.
- S. 5Any other employer not falling under any of the aforesaid categories
- S. 6Any employer falling under Item No
- S. 7Calculation of direct tax payable by the employer
- S. 8Eligibility for bonus
- S. 9Disqualification for bonus
- S. 10Section 10 sets the maximum and minimum bonus amounts, allowing deductions from previous years' bonuses.
- S. 11The National Bank for Agriculture and Rural Development Act, 1981 (61 of 1981)
- S. 12The Payment of Bonus (Amendment) Act, 1985 (30 of 1985)
- S. 13The Payment of Bonus (Second Amendment) Act, 1985 (67 of 1985)
- S. 14Computation of number of working days
- S. 15The Small Industries Development Bank of India Act, 1989 (39 of 1989)
- S. 16Special provisions with respect to certain establishments
- S. 17Adjustment of customary or interim bonus against bonus payable under the Act
- S. 18Deduction of certain amounts from bonus payable under the Act
- S. 19Time-limit for payment of bonus
- S. 20Application of Act to establishments in public sector in certain cases
- S. 21Recovery of bonus due from an employer
- S. 22Reference of disputes under the Act
- S. 23Presumption about accuracy of balance-sheet and profit and loss account of corporations and companies
- S. 24—
- S. 25Audit of accounts of employers, not being corporations or companies
- S. 26Maintenance of registers, records, etc
- S. 27Inspectors
- S. 28Penalty
- S. 29Offences by companies
- S. 30Cognizance of offences
- S. 31Protection of action taken under the Act
- S. 32Act not to apply to certain classes of employees
- S. 33Act to apply to certain pending disputes regarding payment of bonus
- S. 34—
- S. 35Saving
- S. 36Power of exemption
- S. 37Power to remove difficulties
- S. 38Power to make rules
- S. 39Application of certain laws not barred
- S. 40Section 40 repeals and saves schedules and rules related to the Payment of Bonus Act, 1965.