Introduction
The Payment of Bonu s Act, 1965, is a significant piece of legislation in India that governs the payment of bonuses to employees. It aims to provide a statutory framework for the distribution of bonuses to employees working in establishments covered under the Act. Understanding and complying with this law is essential for both employers and employees to ensure fair and equitable bonu s payments. To facilitate this understanding, we have designed a comprehensive training program on “The Payment of Bonu s Act, 1965, and Rules thereunder.”
The specialized workshop has been designed to equip participants with in-depth knowledge of Bonu s Act provisions. The program will cover “the fundamental provisions of the Act, its applicability, calculation of bonu s, lega l obligations of employers and rights of employees, lega l and practical aspects of bonu s payments, ensuring due compliance with the law.
Understanding The Payment of Bonu s Act, 1965
· Historical Background and Objectives.
· Applicability, Coverage and exemptions.
· Definitions and key terminologies.
Computation of Bonu s
· Eligibility criteria for bonu s.
· Method for Bonu s Calculation
· Minimum and Maximum Bonu s
· Calculation of allocable surplus and available surplus.
· Deductions and adjustments
Payment of Bonu s and Records
· Timelines for bonu s payments.
· Maintenance of records and registers.
· Filing of annual returns.
· Penalties for non-compliance.
Legal Obligations and Rights
· Obligations of employers under the Act.
· Rights and protections for employees.
· Resolving disputes and grievances.
· Hands-on exercises for bonu s calculation.
This training program aims to empower participants with the knowledge and skills necessary to navigate The Payment of Bonu s Act, 1965, and Rules thereunder, ensuring lega l compliance in the organisation. By the end of the program, participants will be equipped to handle bonu s – related matters with confidence and accuracy, contributing to both organizational succe ss and employee satisfacti on.