THE PAYMENT OF BONUS ACT, 1965

ACT NO. 21 OF 1965 · Enacted [25th September, 1965.] · 41 sections

Section 1.Short title, extent and application.

Section 2.Definitions.

Section 3.Establishments to include departments, undertakings and branches.

Section 4.Computation of gross profits.

Section 5.Computation of available surplus.

Section 6.Sums deductible from gross profits.

Section 7.Calculation of direct tax payable by the employer.

Section 8.Eligibility for bonus.

Section 9.Disqualification for bonus.

Section 10.Payment of minimum bonus.

Section 11.Payment of maximum bonus.

Section 12.Calculation of bonus with respect to certain employees.

Section 13.Proportionate reduction in bonus in certain cases.

Section 14.Computation of number of working days.

Section 15.Set on and set off of allocable surplus.

Section 16.Special provisions with respect to certain establishments.

Section 17.Adjustment of customary or interim bonus against bonus payable under the Act.

Section 18.Deduction of certain amounts from bonus payable under the Act.

Section 19.Time-limit for payment of bonus.

Section 20.Application of Act to establishments in public sector in certain cases.

Section 21.Recovery of bonus due from an employer.

Section 22.Reference of disputes under the Act.

Section 23.Presumption about accuracy of balance-sheet and profit and loss account of corporations and companies.

Section 24.Audited accounts of banking companies not to be questioned.

Section 25.Audit of accounts of employers, not being corporations or companies.

Section 26.Maintenance of registers, records, etc.

Section 27.Inspectors.

Section 28.Penalty.

Section 29.Offences by companies.

Section 30.Cognizance of offences.

Section 31.Protection of action taken under the Act.

Section 31A.Special provision with respect to payment of bonus linked with production or productivity.

Section 32.Act not to apply to certain classes of employees.

Section 33.[Repealed.]

Section 34.Effect of laws and agreements inconsistent with the Act.

Section 35.Saving.

Section 36.Power of exemption.

Section 37.[Repealed.]

Section 38.Power to make rules.

Section 39.Application of certain law not barred.

Section 40.Repeal and saving.