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.
3 THE PAYMENT OF BONUS ACT, 1965 (21 of 1965) 1 [25 th September, 1965] 2[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.]
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