Bare ActsThe PAYMENT OF BONUS ACT, 1965

Section 4

Cl

Amendment status not verified — confirm the current text below against the official source.

Cl. (vii) ins. by Act 23 of 1976, s. 20 and omitted by Act 66 of 1980, s. 18 (w.e.f. 21-8-1980). 444 (viii) employees employed by the Reserve Bank of India; (ix) employees employed by-- (a) the Industrial Finance Corporation of India; (b) any Financial Corporation established under section 3, or any Joint Financial Corporation established under section 3A, of the State Financial Corporations Act, 1951 (63 of 1951); (c) the Deposit Insurance Corporation; 1*[(d) the National Bank for Agriculture and Rural Development] (e) the Unit Trust of India; (f) the Industrial Development Bank of India; 2*[(fa) the Small Industries Development Bank of India established under section 3 of the Small Industries Development Bank of India Act, 1989 (39 of 1989);] 3*[(ff) the National Housing Bank;] 20 2* * * * * (g) any other financial institution 5*[(other than a banking company)] being an establishment in public sector, which the Central Government may, by notification in the Official Gazette, specify, having regard to-- (i) its capital structure; (ii) its objectives and the nature of its activities; (iii) the nature and extent of financial assistance or any concession given to it by the Government; and (iv) any other relevant factor; 6* * * * * (xi) employees employed by inland water transport establishments operating on routes passing through any other country.

Section 4 – The PAYMENT OF BONUS ACT, 1965 | DailyLaw.ai