Payment of Bonus Act, 1965
Stub article on the Payment of Bonus Act, 1965, which governs bonus in the private and public-enterprise sector. A full encyclopedic entry is pending.
What this article will cover
A full salary-calculator article on the Payment of Bonus Act, 1965 will cover the statute that governs bonus in factories and other establishments in the private and public-enterprise sector, the minimum bonus of 8.33 per cent and the maximum of 20 per cent of wages, the allocable-surplus and set-on and set-off mechanics, the wage and eligibility ceilings, and why the Act does not apply to central government servants, whose bonus is paid instead under the executive Productivity Linked Bonus schemes, with links to neighbouring topics on salary-calculator.in and a references section pointing to primary sources.