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SUBJECTS WE DEAL IN
 

Employees' Provident Fund

Employees' State Insurance

Contract Labour

Labour Welfare Fund

Shops & Establishments

Factories Act

Payment of Wages

Minimum Wages

Payment of Bonus

Payment of Gratuity

Industrial Disputes

Workmen Compensation

Apprentice

Industrial Standing Orders

Professional Tax

Maternity Benefits

Pay-roll Management

Employment Documents

 
NEWS

Maternity Leave raised to 26 weeks:

Amendment in Maternity Benefit Act has been notified to raise Maternity Leave from 12 weeks to 26 weeks w.e.f. 1st April, 2017.

EPF Wage Ceiling enhanced to Rs. 15,000:

Monthly wage ceiling for coverage under EPF enhanced from Rs. 6,500/- to Rs. 15,000/- w.e.f. 1st September, 2014.

ESI Wage Ceiling enhanced to Rs. 21,000:

Monthly wage ceiling for coverage under ESI enhanced from Rs. 15,000/- to Rs. 21,000/- w.e.f. 1st January, 2017.

EPF Admin Charges reduced and EDLI Admin Charges abolished:

EPFO reduced EPF admin charges to 0.65% from 0.85% and abolished EDLI admin charges w.e.f. 1st April, 2017.

Bonus Eligibility Ceiling enhanced to Rs. 21,000:

Wage ceiling for eligibility under Payment of Bonus Act has been enhanced from Rs. 10,000 to Rs. 21,000 per month retrospectively w.e.f. 1st April, 2014. Although, implementation from retrospective effect has been stayed by various High Courts.

Central & State Specific Labour Laws & Rules
 
Payment of Bonus Act, 1965

Purpose & Object The Payment of Bonus Act, 1965 has been enacted to provide & regulate the payment of bonus to employees in certain specified establishments either on the basis of profits or on the basis of productivity of the establishment.
Applicability
  • Payment of Bonus Act, 1965 extends to whole of India.
  • Payment of Bonus Act, 1965 applies to every factory and to every other establishment in which 20 or more persons are employed on any day during an accounting year;
  • The Government may also apply the act on any factory or establishment in which has less than 20 but not less than 10 persons are employed;
  • Payment of Bonus Act, 1965 is applicable on every employee whether doing any skilled, unskilled, manual, supervisory, managerial, administrative, technical or clerical work for hire or reward and whether the terms of employment are express or implied.
Eligibility
  • Payment of Bonus Act, 1965 is applicable on employees drawing wages / salary up-to 10,000/- per month.
  • Only those employees are entitled for bonus, who have worked for at least 30 working days in an accounting year.
Rate of Bonus
  • 8.33% of the salary or wages earned by an employee in a year or Rs. 100/-, whichever is higher.
  • In case allocable surplus exceeds the amount of provision of minimum bonus, the employer shall be bound to pay maximum bonus not exceeding 20% of the salary or wages earned by employees.
  • In case allocable surplus exceeds the maximum bonus (20% of the salary or wages earned by employees), the excess surplus shall be carried forward for being set on in the succeeding accounting years up to and inclusive of the 4th accounting year.

Services We Offer

We are Labour Law Consultants and at FuturAgeSM, we provide following services in compliance to the provisions of Payment of Bonus Act, 1965:

FuturAge Providing day to day consultancy on matters pertaining to payment of bonus
FuturAge Assistance in calculation of accurate amount of bonus;
FuturAge Assistance in treatment of available surplus / allocable surplus like set-on, set-off, carry forward;
FuturAge Obtaining permissions from Labour Commissioner from time to time for various purposes as may be provided under the act like change in accounting year etc.;
FuturAge Preparation & Maintenance of various Registers like Register of Allocable Surplus, Register of set on & set off of Allocable Surplus, Register of Bonus etc. as provided under the act;
FuturAge Preparation & Submission of Annual return as prescribed under the act;
FuturAge Replying / Satisfying Show Cause Notices issued by Inspector;
FuturAge Representing establishments before Inspector;
FuturAge Assistance to establishments at the time of inspection and search of any premises by Inspector;
FuturAge Representing establishments at the enquiries conducted by the inspector.
   
 
 
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