Payment of Bonus Act

[stellalauren]

It is An Act to provide for the payment of bonus to persons employed in certain establishments on the basis of profits or on the basis of production or productivity and for matters connected therewith. Any commission payable to the employee,where an employee is given in lieu of the whole or part of the salary or wage payable to him, free food allowance or free food by his employer, such food allowance or the value of such food shall, for the purpose of this clause, be deemed to form part of the salary or wage of such employee.

 

[jitendra05]

It is An Act to provide for the payment of bonus to persons employed in certain establishments on the basis of profits or on the basis of production or productivity and for matters connected therewith. Any commission payable to the employee,where an employee is given in lieu of the whole or part of the salary or wage payable to him, free food allowance or free food by his employer, such food allowance or the value of such food shall, for the purpose of this clause, be deemed to form part of the salary or wage of such employee.

Hey friend, as we all know that this act is for providing the payment of bonus to the employee on the basis of any profit, production etc. Well, i am also uploading a document where you would find more detailed information.

 

[idealhr]

The Act provides a statutory right to employees of an establishment to share the profits of his/her employer. As per the Principal Act, any employee who was drawing a salary or wage not exceeding ten thousand rupees per month was eligible to be paid a bonus.