Transcription of The Payment of Bonus Act, 1965 - Ministry of Labour and ...
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The Payment of Bonus Act, 1965 - Ministry of Labour and ...
1 THE Payment OF Bonus ACT, 1965 INTRODUCTION The practice of paying Bonus in India appears to have originated during First World War when certain textile mills granted 10% of wages as war Bonus to their workers in 1917. In certain cases of industrial disputes demand for Payment of Bonus was also included. In 1950, the Full Bench of the Labour Appellate evolved a formula for determination of Bonus . A plea was made to raise that formula in 1959. At the second and third meetings of the Eighteenth Session of Standing Labour Committee (G. ) held in New Delhi in March/April 1960, it was agreed that a Commission be appointed to go into the question of Bonus and evolve suitable norms.
Act, 1956 (1 of 1956), and includes a foreign company within the meaning of section 591 of that Act; (10) “co-operative society” means society registered or deemed to be registered under the Co-operative Societies Act, 1912 (2 of 1912), or any other law for the time being in force in any State relating to co-operating societies;
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