What does the term "Accounting year" mean under the Payment of Bonus Act?

It refers to the calendar year.

It is the year in which a company's annual report is prepared.

It is the year in which an establishment's accounts are closed and balanced.

It refers to the financial year of a company.

Who is considered the "Appropriate Government" under the Payment of Bonus Act?

It refers to the company's board of directors.

It is the government body responsible for banking regulations.

It is the government authority overseeing labor and industrial matters.

It refers to the government agency responsible for tax collection.

What is "Bonus" as defined under the Payment of Bonus Act?

It refers to an additional payment to employees for exceptional performance.

It is a form of gratuity paid to employees upon retirement.

It is an extra payment given to employees during festive seasons.

It is the amount payable to employees as a share in the company's profits.

Who is considered an "Employee" under the Payment of Bonus Act?

It refers to any person employed in an establishment.

It is an individual who has been working for over 15 years.

It is a person employed on a salary or wage not exceeding a certain amount.

It refers to an individual engaged in managerial work.

What is the minimum bonus an employer must pay to an employee under the Payment of Bonus Act?

8.33% of the employee's salary.

Under what conditions can an employee be disqualified from receiving a bonus?

For theft or misappropriation of company property.

For participating in union activities.

What is the basis for calculating the bonus payable to employees if their salary exceeds a certain amount?

The calculation is based on their basic salary.

The calculation remains the same regardless of salary.

The bonus is not applicable for employees with higher salaries.

The calculation assumes their salary is equal to the specified limit.

When is an employee deemed to have worked for the purpose of calculating bonus?

Only on the days they were actively present at work.

On all days they were on leave with salary.

On days they were absent due to medical reasons.

On certain days such as leave, laid-off days, and maternity leave.

What is the meaning of "Allocable surplus" under the Payment of Bonus Act?

It refers to the amount an employer sets aside for employee bonuses.

It is the portion of profits allocated to shareholders.

It is the portion of available funds used for charitable activities.

It is the surplus amount left after certain deductions from gross profits.

Payment of Bonus Act(1965) - 1 Free MCQ Practice Test with Solutions

Important Questions for Payment of Bonus Act(1965) - 1

Find all the important questions for Payment of Bonus Act(1965) - 1 at EduRev.Get fully prepared for Payment of Bonus Act(1965) - 1 with EduRev's comprehensive question bank and test resources. Our platform offers a diverse range of question papers covering various topics within the Payment of Bonus Act(1965) - 1 syllabus. Whether you need to review specific subjects or assess your overall readiness, EduRev has you covered. The questions are designed to challenge you and help you gain confidence in tackling the actual exam. Maximize your chances of success by utilizing EduRev's extensive collection of Payment of Bonus Act(1965) - 1 resources.

Payment of Bonus Act(1965) - 1 MCQs with Answers

Prepare for the Payment of Bonus Act(1965) - 1 within the B Com exam with comprehensive MCQs and answers at EduRev. Our platform offers a wide range of practice papers, question papers, and mock tests to familiarize you with the exam pattern and syllabus. Access the best books, study materials, and notes curated by toppers to enhance your preparation. Stay updated with the exam date and receive expert preparation tips and paper analysis. Visit EduRev's official website today and access a wealth of videos and coaching resources to excel in your exam.

Online Tests for Payment of Bonus Act(1965) - 1

Practice with a wide array of question papers that follow the exam pattern and syllabus. Our platform offers a user-friendly interface, allowing you to track your progress and identify areas for improvement. Access detailed solutions and explanations for each test to enhance your understanding of concepts. With EduRev's Online Tests, you can build confidence, boost your performance, and ace Payment of Bonus Act(1965) - 1 with ease. Join thousands of successful students who have benefited from our trusted online resources.

Education Revolution