Payment of Bonus Act, 1965
- The payment of Bonus Act provides for payment of bonus to persons employed in certain establishments of the basis of profits or on the basis of production or productivity and for matters connected therewith.
- It extends to the whole of India and is applicable to every factory and to every other establishment where 20 or more workmen are employed on any day during an accounting year
- Every employee receiving salary or wages up to Rs. 21000 p.m. and engaged in any kind of work whether skilled, unskilled, managerial, supervisory etc. is entitled to bonus for every accounting year if he has worked for at least 30 working days in that year.
- Bonus limit is 7000/ or Minimum Wages whichever is higher
- Provide proper guide to prepare Form C
- Preparation of Bonus Return Form D