Professional Documents
Culture Documents
1
INDIAN BONUS ACT – 1965
Presented By
• Anita Agarwal 02
• Dhawal Ambani 03
• Gaurang Bharkhada 05
• Sanjog Devrukhkar 11
• Pradik Malik 21
• Arun Singh 50
• Varun Agarwal 61
Presented To
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Bonus - Applicability
(a) Every factory (as def. in Factories Act), & (b) Every other
establishment in which 20 or more persons (less than 20 but 10 or
more if appropriate Govt. notifies) are employed on any day subject
to certain exemptions.
(b) Bonus to be paid within eight months from the expiry of the
accounting year.
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CALCULATION OF BONUS
The method for calculation
of annual bonus is as
follows:
Calculate the Available
Surplus.
Available Surplus =
Gross Profit – ( deduct)
the following :
Depreciation admissible
u/s 32 of the Income
tax Act.
Development
allowance 9
Available Surplus (Deductions)
Direct taxes payable for the accounting year (calculated as
per Sec.7) – Sums specified in the Third Schedule.
(ii) Seamen
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Employees not eligible for Bonus
the Industrial Finance Corporation of India;
any Financial Corporation established under section 3,
or any Joint Financial Corporation established under section 3A,
of the State Financial Corporations Act, 1951 (63 of 1951);
the Deposit Insurance Corporation;
the National Bank for Agriculture and Rural Development;]
the Unit Trust of India;
the Industrial Development Bank of India;
18
Maintenance of Register,
Records & Inspectors
Every employer shall prepare and
maintain such registers, records
and other documents in such form
and in such manner as may
prescribed.
The appropriate Government may,
by notification on the Official
Gazette, appoint such person as it
think fit to be Inspectors for the
purposes of this Act and may
define the limits within which they
shall exercise jurisdiction.
19
Inspectors Duties
An Inspector appointed under sub-section (1) may, for the
purpose of ascertaining whether any of the provisions of
this Act has been complied with –