Payment of Bonus Act 1965

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Payment of Bonus Act 1965

MIDM
In HR Department Bonus is a Profit sharing concept. Annual Processing : Bonus . Ex-Gratia is a Scheme. Statutory Bonus and Non Statutory Bonus. HR Executive should have full knowledge of Payment of Bonus Act. In HR Practical Training , we are having Annual Processing knowledge Bonus is one of that activity.
  • What is Bonus?How to calculate Bonus?
  • What is Bonus Wages?What is the eligibility for bonus?
  • What is the criteria for an factory or establishment to be applicable for Bonus?
  • What are the types of Bonus?What are the min and max percentage of bonus?
  • What is available and allocable surplus?What is set on and set off?
  • What is the period within which bonus must be given?
  • What is the Ex-gratia concept?
  • What are the important Forms explain them in which form stands for what?
  • What are statutory bonus?To whom it is  not applicable?
  • What will happen if bonus is unpaid for 3 yrs?

Form No “C” and “D” Importance of these Forms .

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