B Com Exam > B Com Videos > Industrial Laws > Introduction - Payment Of Bonus Act(1965), Industrial Laws
Introduction - Payment Of Bonus Act(1965), Industrial Laws Video Lecture | Industrial Laws - B Com
|
54 videos|46 docs|18 tests
|
FAQs on Introduction - Payment Of Bonus Act(1965), Industrial Laws Video Lecture - Industrial Laws - B Com
| 1. What is the Payment of Bonus Act (1965)? |  |
Ans. The Payment of Bonus Act (1965) is an Indian legislation that provides for the payment of bonus to employees working in establishments with 20 or more employees. It aims to ensure a fair share of profits to employees and promote harmonious employer-employee relations.
| 2. Who is eligible to receive bonus under the Payment of Bonus Act? | |
Ans. Any employee, whether permanent, temporary, or contractual, who has worked for at least 30 working days in an accounting year is eligible to receive bonus under the Payment of Bonus Act. However, employees earning a salary above a certain threshold are excluded from the Act's purview.
| 3. How is the bonus amount calculated under the Payment of Bonus Act? | |
Ans. The bonus amount is calculated based on the employee's salary or wage and the profits of the establishment. The Act specifies that the minimum bonus should be 8.33% of the employee's salary or wage, and the maximum bonus should not exceed 20%. If the allocable surplus (available funds for bonus) is less than the maximum bonus payable, the bonus is calculated proportionately.
| 4. Are all establishments required to pay bonus under the Payment of Bonus Act? | |
Ans. No, not all establishments are required to pay bonus under the Payment of Bonus Act. The Act applies to establishments with 20 or more employees and those which are engaged in any industry specified in the Schedule of the Act. Certain categories of establishments, such as charitable institutions and hospitals, are exempted from the Act's provisions.
| 5. What are the consequences of non-compliance with the Payment of Bonus Act? | |
Ans. Non-compliance with the Payment of Bonus Act can result in legal consequences for the employer. If an employer fails to pay the bonus or violates any provisions of the Act, they may be liable to pay a penalty and face legal action. The Act also empowers employees to file complaints with the appropriate authorities for the enforcement of their rights under the Act.
Related Exams
About this Video
|
4.75/5 Rating |
|
Nov 22, 2024 Last updated |
Video Description: Introduction - Payment Of Bonus Act(1965), Industrial Laws for B Com 2024 is part of Industrial Laws preparation.
The notes and questions for Introduction - Payment Of Bonus Act(1965), Industrial Laws have been prepared according to the B Com exam syllabus.
Information about Introduction - Payment Of Bonus Act(1965), Industrial Laws covers all important topics for B Com 2024 Exam.
Find important definitions, questions, notes, meanings, examples, exercises and tests below for Introduction - Payment Of Bonus Act(1965), Industrial Laws.
Introduction of Introduction - Payment Of Bonus Act(1965), Industrial Laws in English is available as part of our Industrial Laws for B Com & Introduction - Payment Of Bonus Act(1965), Industrial Laws in
Hindi for Industrial Laws course. Download more important topics related with notes, lectures and mock test series for
B Com Exam by signing up for free.
Description
Video Lecture & Questions for Introduction - Payment Of Bonus Act(1965), Industrial Laws Video Lecture | Industrial Laws - B Com - B Com full syllabus preparation | Free video for B Com exam to prepare for Industrial Laws.
Information about Introduction - Payment Of Bonus Act(1965), Industrial Laws
Here you can find the meaning of Introduction - Payment Of Bonus Act(1965), Industrial Laws defined & explained in the simplest way possible.
Besides explaining types of Introduction - Payment Of Bonus Act(1965), Industrial Laws theory, EduRev gives you an ample number of questions to practice Introduction - Payment Of Bonus Act(1965), Industrial Laws tests,
examples and also practice B Com tests.
|
54 videos|46 docs|18 tests
|
|
Explore Courses for B Com exam
|
|
Signup for Free!
Signup to see your scores go up within 7 days! Learn & Practice with 1000+ FREE Notes, Videos & Tests.
Related Searches
Extra Questions
,video lectures
,Introduction - Payment Of Bonus Act(1965)
,Semester Notes
,practice quizzes
,Exam
,ppt
,Summary
,Introduction - Payment Of Bonus Act(1965)
,Previous Year Questions with Solutions
,Important questions
,Industrial Laws Video Lecture | Industrial Laws - B Com
,shortcuts and tricks
,Industrial Laws Video Lecture | Industrial Laws - B Com
,Sample Paper
,Free
,Objective type Questions
,study material
,Viva Questions
,mock tests for examination
,past year papers
,Introduction - Payment Of Bonus Act(1965)
,MCQs
,Industrial Laws Video Lecture | Industrial Laws - B Com
;
Study Introduction - Payment Of Bonus Act(1965), Industrial Laws on the App
Students of B Com can study Introduction - Payment Of Bonus Act(1965), Industrial Laws alongwith tests & analysis from the EduRev app,
which will help them while preparing for their exam. Apart from the Introduction - Payment Of Bonus Act(1965), Industrial Laws,
students can also utilize the EduRev App for other study materials such as previous year question papers, syllabus, important questions, etc.
The EduRev App will make your learning easier as you can access it from anywhere you want.
The content of Introduction - Payment Of Bonus Act(1965), Industrial Laws is prepared as per the latest B Com syllabus.
|
© EduRev
|
Education Revolution
|
Follow Us
|
Signup to see your scores
go up
within 7 days!
within 7 days!
Takes less than 10 seconds to signup