About this document
Overview of Payment Bonus Act 1965 by Kuldeep Tomar is a document available to read on EtoBox.
The document summarizes the Payment of Bonus Act 1965 in India. It defines key terms like bonus and outlines the objectives of the act to provide bonus payments to employees in certain establishments based on profits. It describes eligibility criteria like earning less than Rs. 3500 per month and working for 30 days. It also outlines calculations for minimum statutory bonus of 8.33% of wages and maximum bonus of 20% of wages. Employers must pay the bonus within 8 months of the financial year closing.
- Author
- Kuldeep Tomar
- Language
- EN