Page 147 - DCOM207_LABOUR_LAWS

Labour Laws Pooja, Lovely Professional University

Notes Unit 9: Payment of Bonus Act, 1965

CONTENTS

Objectives
Introduction
9.1 An Overview of Payment of Bonus Act
9.1.1 Concept of Bonus
9.1.2 Objectives of this Act
9.1.3 Key Provisions

9.1.4 Duties and Rights of Employer
9.2 Definitions
9.3 Eligibility and Disqualification of Bonus
9.3.1 Eligibility for Bonus [Sec. 8]

9.3.2 Disqualification of Bonus
9.4 Computation of Bonus Payment
9.4.1 Computation of Gross Profits [Sec. 4]
9.4.2 Computation of Available Surplus [Section 5]
9.4.3 Computation of Allocable Surplus [Sec. 2(4)]

9.4.4 Set-on and Set-off of Allocable Surplus [Sec. 15]
9.5 Powers of Inspectors, and Offences and Penalties [Sec. 27]
9.5.1 Powers of Inspectors
9.5.2 Offences and Penalties [Secs. 28 & 29]

9.6 Summary
9.7 Keywords
9.8 Review Questions
9.9 Further Readings

Objectives

After studying this unit, you will be able to:

l z Describe an overview of Payment of Bonus Act
l z Explain the definitions under this Act

l z Discuss the eligibility and disqualification of bonus
l z Get an overview of computation of bonus payment
l z Describe the powers of inspectors offences and penalties [Sec 27]

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