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Every day is a bonus day
The Payment of Bonus Act, 1965 and The Payment of Bonus Rules, 1975
The Essence
the genesis
The practice of paying bonus in India originated during First World War when certain textile mills granted 10% of wages as war bonus to their workers in 1917. This led to workers in other establishments demanding the same.
Soon, a commission was set up by the Government of India to consider the question of payment of bonus based on profits to employees employed in establishments. Hence, the Payment of Bonus Act
Go the extra mile, it is never crowded
Scope of the Act and rules
Objective
Ensure peace and harmony between labour and management by allowing the employees to share the prosperity of the establishment. Bonuses reward achievements and show gratitude to employees who meet longevity milestones
coverage
- Eligibility for bonus
- Minimum and maximum.bonus payable
- Calculation of bonus
- Time frame for payment of bonus
- Registers and records to be maintained
- Returns to be submitted periodically
- Penalties for offences under the Act
"Look, my philosophy in life is expect nothing and everything is a bonus"
Hugh Jackman
Three steps to success
We Help You Every Step Of The Way
Let’s face it! HR Policies need to be designed keeping the industry sector, business requirement and the needs of the workforce in mind. A one size fits all approach does not work when it comes to writing a number of policies.
On the other hand, labour laws require that companies adhere to various statutory compliances, but are difficult for the lay person to comprehend. Why stress over them. Leave the heavy lifting to us!
01
learning about all your business
Tell us which sector you are in, where you are located, how many employees by gender, if you engage contract labour etc
02
Send you relevant Labour compliances & HR Policies
Our system gets to work and creates a customised set of documents just for you. We deliver in 2 to 4 weeks
03
Keep you updated
on revisions to law
We constantly track changes in labour legislations, new policies in vogue and update you
