The Statutory Bonus came into existence with the approval of the Payment of Bonus Act in 1965 by the Government. According to this act, certain establishments had to pay an amount to their employees based on their profitability each year. This amount was to be over and above their basic salaries.
Introduction The payment of bonus is dealt by “Payment of Bonus Act, 1965”, read with “payment of Bonus Rules, 1975”, (central rules) B, the main purpose of the enactment is to impose a legal obligation on the employer to provide for payment of bonus.
Notification Of Combined Register And Annual Returns Under Various Labour Laws In Madhya Pradesh. Madhya Pradesh. . (11) The Payment Of Wages Act, 1936, (12) The Payment Of Bonus Act, 1965, (13) The Sales Promotion Employees (Conditions Of Service) Act, 1976, (14) The Madhya Pradesh Shram Kalyan Nidhi Adhiniyam, 1982, (15) The Madhya Pradesh.
An employee has to have worked for at least 30 days in that company. According to the Bonus Act, a minimum of 8.33% up to 20% of his basic (earned) wages is to be paid to the employee. Note: Bonus is to be paid within 8 months of closing the book of accounts.
Further, the amount of bonus liability normally has a material effect on the operating results and the state of affairs of an enterprise. Keeping this in view, the Research Committee has bought out the publication titled as 'The Payment of Bonus Act 1965 - An Accountant's Study'.
Form B register is a register of 'Set-on and Set-off of allocable surplus' under section 15 of the Act. You need to study and understand this section. Computation of allocable surplus and set-on, set-off is a subject of a person who does finalization of accounts. You need to take the relevant information from such person to fill up this register.
Acts and Rules - Description of work, office manuals, learning manuals. The Punjab Transparency in Public Procurement Act, 2019; Punjab Factories Rule 1952.
All amounts payable to an employee by way of bonus under this Act shall be paid in cash by his employer, within a period of eight months from the close of the accounting year.
The number of employees in the establishment who are governed by the Act. Annual Return ((FORM- IV)) No deduction from wages has been made other than those authorised under the Act. Wage Period Determination of Available and Allocable Surplus and correctness of Computation. 2 Payment of Bonus Act, 1965 Timely payment of the bonus.
Form A B C D with Firts Second Schedule as per Payment of Bonus Act Plz not due date for filing annual return is 31 Dec 2013.
The Payment Of Bonus Act, 1965. Page Visitors: 8642. Copyright 2014. All rights reserved to the ICAI.
The Maternity Benefit Act, 1961: The Minimum Wages Act, 1948: The Payment Of Bonus Act, 1965: The Payment Of Wages Act, 1936: The Punjab Industrial Establishment Act, 1965: The Trade Unions Act, 1926: Working Journalist And Other Newspaper Employees Act, 1955: Procedure for seeking exemption.
The Odisha Shops And Commercial Establishments Act, 1956: The Orissa Industrial Establishments (National And Festival) Holidays Act, 1969: The Orissa State Tax On Professions, Trades, Callings And Employments Act, 2000: The Payment Of Bonus Act, 1965: The Payment Of Wages Act, 1936: The Private Security Agencies (Regulation) Act, 2005.
This supplement is an addendum updating the first edition of Malaysia Company Law: Principles and Practices. It provides a concise yet helpful explanation of the differences between the former Companies Act 1965 and the Companies Act 2016, which came into operation on 31 January 2017. INTRODUCTION. The Companies Act 2016 and Companies.
The Payment of Bonus Act, 1965 (Bonus Act) has been recently amended to bring about certain key changes (the Amendments).(a) Revision of wage threshold for eligibility: The wage threshold for determining eligibility of employees has been revised from INR 10,000 to INR 21,000 per month, covering a larger pool of employees. (b) Change in the wage ceiling used for calculation of bonus: Previously.
THE PAYMENT OF BONUS (AMENDMENT) ACT, 2015 NO. 6 OF 2016 (31st December, 2015.) An Act further to amend the Payment of Bonus Act, 1965. BE it enacted by Parliament in the Sixty-sixth Year of the Republic of India as follows:— 1. (1) This Act may be called the Payment of Bonus (Amendment) Act, 2015.(2) It shall be deemed to have come into force on the 1st day of April, 2014.
THE PAYMENT OF BONUS ACT, 1965 1. Short title, extent and application. — (1) This Act may be called the Payment of Bonus Act, 1965.
THE PAYMENT OF BONUS ACT, 1965. 1. Payment of Bonus Register in Form-C. 2. Statutory Bonus Paid to all Workmen. 3. Submitted Copy of Annual Return in Form-D. THE MAHARASHTRA SHOPS AND ESTABISHMENTS ACT, 1948. 1. Minimum 21 Annual Leave. 2. Overtime Paid. 3. Leave Register Form-M. 4. Leave Card issued to all employees. THE MATERNITY BENEFIT.
The Payment of Bonus Act, 1965 1. Short title, extent and application.— (1) This Act may be called the Payment of Bonus Act, 1965.