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Act Requirement Records To Be Maintained Disqualification For Bonus Due Dates

The document outlines the key aspects of bonus payments to employees under the Payment of Bonus Act 1965 in India. It states that employees are entitled to an annual bonus based on their earnings, with a minimum of 8.33% and maximum of 20% of their salary. Employers must maintain a bonus payment register and pay out bonuses within 8 months of the new financial year. Employees can be disqualified from receiving a bonus if dismissed for fraud, violent behavior, theft or sabotage.

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Bhattacharjee Shaibal
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47 views

Act Requirement Records To Be Maintained Disqualification For Bonus Due Dates

The document outlines the key aspects of bonus payments to employees under the Payment of Bonus Act 1965 in India. It states that employees are entitled to an annual bonus based on their earnings, with a minimum of 8.33% and maximum of 20% of their salary. Employers must maintain a bonus payment register and pay out bonuses within 8 months of the new financial year. Employees can be disqualified from receiving a bonus if dismissed for fraud, violent behavior, theft or sabotage.

Uploaded by

Bhattacharjee Shaibal
Copyright
© © All Rights Reserved
We take content rights seriously. If you suspect this is your content, claim it here.
Available Formats
Download as PPT, PDF, TXT or read online on Scribd
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-Every employee shall be entitled to be

paid by his employer in an accounting


year, bonus, in accordance with the
provisions of this Act, provided he has
worked in the establishment for not less
than thirty working days in that year.
Act Requirement
The Payment of Bonus Act 1965,
Process Calendar

Records to be
Maintained

-Bonus payment Register
Disqualification for
bonus
Due dates
Eligibility
Calculation
Minimum 8.33%
Maximum 20%
(On Rs. 3500)
Within eight months of the
next financial year
(Before Nov).
Fully Taxable
Income Tax Applicability
-An employee shall be
disqualified from receiving
bonus under this Act, if he is
dismissed from service for-

(a) Fraud
(b) Riotous or violent
behaviour while on the
premises of the
establishment
(c) Theft, misappropriation
or sabotage of any
property of the
establishment
Applicability
-Minimum wages (Basic & DA)
10000/=p.m. or Below

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