1. Eligibility for bonus.—
Every employee shall be entitled to be paid
by his employer in an accounting year, bonus, in accordance with the provisions
of this Act, provided he has worked in the establishment for not less than
thirty working days in that year.
2. Disqualification for
bonus.—
Notwithstanding anything contained in this Act, an employee shall be
disqualified from receiving bonus under this Act, if he is dismissed from
service for --
(a) fraud; or
(b) riotous or violent
behavior while on the premises of the establishment; or
(c) theft, misappropriation or
sabotage of any property of the establishment.
3. Payment of minimum bonus.—
Subject
to the other provisions of this Act, every employer shall be bound to pay to
every employee in respect of the accounting year commencing on any day in the
year 1979 and in respect of every subsequent accounting year, a minimum bonus behaviors
which shall be 8.33 per cent of the salary or wage earned by the employee
during the accounting year or one hundred rupees, whichever is higher, whether
or not the employer has any allocable surplus in the accounting year:
Provided that where an employee has not completed fifteen
years of age at the beginning of the accounting year, the provisions of this
section shall have effecting relation to such employee as if for the words “one
hundred rupees”, the words “sixty
rupees” were substituted.
4. Payment of maximum bonus.—
Where in respect of any accounting year referred to in section 10, the
allocable surplus exceeds the amount of minimum bonus payable to the employees
under that section, the employer shall, in lieu of such minimum bonus, be bound
to pay to every employee in respect of that accounting; year bonus which shall
be an amount in proportion to the salary or wage earned by the employee during
the accounting year subject to a maximum of twenty per cent, of such salary or
wage.
In computing the allocable surplus under this
section, the amount set on or the amount set off under the provisions of
section 15 shall be taken into account in accordance with the provisions of
that section.
