PAYMENT OF BONUS ACT, 1965
[21 OF 1965]
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 Act to apply to certain pending disputes regarding payment of bonus
Section - 34 Effect of laws and agreements inconsistent with the Act
Section - 35 Saving
Section - 36 Power of exemption
Section - 37 Power to remove difficulties
Section - 38 Power to make rules
Section - 39 Application of certain laws not barred
Section - 40 Repeal and saving
SCH I COMPUTATION OF GROSS PROFITS
SCH II Computation of Gross Profits
SCH III THIRD SCHEDULE
SCH IV FOURTH SCHEDULE
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