B Com Exam > B Com Videos > Industrial Laws > Eligibility for bonus - Payment Of Bonus Act(1965), Industrial Laws
Eligibility for bonus - Payment Of Bonus Act(1965), Industrial Laws Video Lecture | Industrial Laws - B Com
|
54 videos|46 docs|18 tests
|
FAQs on Eligibility for bonus - Payment Of Bonus Act(1965), Industrial Laws Video Lecture - Industrial Laws - B Com
| 1. What is the Payment of Bonus Act (1965) and how does it relate to eligibility for a bonus? |  |
The Payment of Bonus Act (1965) is an Indian legislation that provides for the payment of bonus to employees working in establishments employing a certain number of persons. It mandates that employees who have worked for a minimum period of 30 days in an accounting year are eligible to receive a bonus. The Act sets out the criteria for determining the eligibility of an employee and the calculation of bonus based on the employee's salary and profits of the establishment.
| 2. How is eligibility for a bonus determined under the Payment of Bonus Act (1965)? | |
Under the Payment of Bonus Act (1965), an employee is eligible to receive a bonus if they have worked for a minimum of 30 days in an accounting year. The Act does not specify any additional eligibility criteria such as job position, length of service, or nature of employment. Therefore, all employees who have completed at least 30 days of work in a particular accounting year are entitled to receive a bonus.
| 3. Is there a minimum salary requirement for eligibility to receive a bonus under the Payment of Bonus Act (1965)? | |
No, there is no minimum salary requirement for eligibility to receive a bonus under the Payment of Bonus Act (1965). The Act does not differentiate between employees based on their salary or wage levels. As long as an employee has completed a minimum of 30 days of work in an accounting year, they are entitled to receive a bonus irrespective of their salary.
| 4. Can an employee be denied a bonus if they have not completed a full year of service? | |
No, an employee cannot be denied a bonus solely on the grounds of not completing a full year of service. As per the Payment of Bonus Act (1965), an employee becomes eligible for a bonus if they have worked for a minimum of 30 days in an accounting year, regardless of the length of their service. Even if an employee has joined the establishment midway through the accounting year, they are still entitled to a bonus if they meet the minimum work requirement.
| 5. How is the bonus amount calculated under the Payment of Bonus Act (1965)? | |
The bonus amount is calculated based on the employee's salary and the profits of the establishment. According to the Act, the bonus payable to an employee is determined by multiplying the employee's salary or wage by the bonus factor, which is capped at 20%. The Act also specifies that if an employee's salary or wage exceeds a certain threshold (currently Rs. 7,000 per month), the bonus payable to them shall be calculated based on the threshold amount. The actual calculation formula is provided in the Act and may vary based on the specific provisions applicable to different establishments.
Related Exams
About this Video
|
4.78/5 Rating |
|
Dec 23, 2024 Last updated |
Video Description: Eligibility for bonus - Payment Of Bonus Act(1965), Industrial Laws for B Com 2024 is part of Industrial Laws preparation.
The notes and questions for Eligibility for bonus - Payment Of Bonus Act(1965), Industrial Laws have been prepared according to the B Com exam syllabus.
Information about Eligibility for bonus - 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 Eligibility for bonus - Payment Of Bonus Act(1965), Industrial Laws.
Introduction of Eligibility for bonus - Payment Of Bonus Act(1965), Industrial Laws in English is available as part of our Industrial Laws for B Com & Eligibility for bonus - 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 Eligibility for bonus - 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 Eligibility for bonus - Payment Of Bonus Act(1965), Industrial Laws
Here you can find the meaning of Eligibility for bonus - Payment Of Bonus Act(1965), Industrial Laws defined & explained in the simplest way possible.
Besides explaining types of Eligibility for bonus - Payment Of Bonus Act(1965), Industrial Laws theory, EduRev gives you an ample number of questions to practice Eligibility for bonus - 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
Eligibility for bonus - Payment Of Bonus Act(1965)
,Industrial Laws Video Lecture | Industrial Laws - B Com
,past year papers
,MCQs
,Industrial Laws Video Lecture | Industrial Laws - B Com
,practice quizzes
,Objective type Questions
,Industrial Laws Video Lecture | Industrial Laws - B Com
,shortcuts and tricks
,Semester Notes
,ppt
,Previous Year Questions with Solutions
,Exam
,Sample Paper
,Eligibility for bonus - Payment Of Bonus Act(1965)
,Extra Questions
,Free
,Viva Questions
,video lectures
,Summary
,Eligibility for bonus - Payment Of Bonus Act(1965)
,mock tests for examination
,study material
,Important questions
;
Study Eligibility for bonus - Payment Of Bonus Act(1965), Industrial Laws on the App
Students of B Com can study Eligibility for bonus - 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 Eligibility for bonus - 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 Eligibility for bonus - Payment Of Bonus Act(1965), Industrial Laws is prepared as per the latest B Com syllabus.
|
© EduRev
|
Education Revolution
|
|
Signup to see your scores
go up within 7 days!
Access 1000+ FREE Docs, Videos and Tests
Takes less than 10 seconds to signup