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Minimum wages Act, 1948 An Act to PREVENT "SWEATED LABOUR AND EXPLOITATION OF LABOUR" the payment of bonus ACT, 1965 An Act to provide for the payment of bonus to persons in certain establishments on the basis of profits, production or productivity.
Minimum wages Act, 1948 An Act to PREVENT "SWEATED LABOUR AND EXPLOITATION OF LABOUR" the payment of bonus ACT, 1965 An Act to provide for the payment of bonus to persons in certain establishments on the basis of profits, production or productivity.
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Minimum wages Act, 1948 An Act to PREVENT "SWEATED LABOUR AND EXPLOITATION OF LABOUR" the payment of bonus ACT, 1965 An Act to provide for the payment of bonus to persons in certain establishments on the basis of profits, production or productivity.
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Attribution Non-Commercial (BY-NC)
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Скачайте в формате PPT, PDF, TXT или читайте онлайн в Scribd
THE MINIMUM WAGES ACT, 1948 AN ACT TO PREVENT “SWEATED LABOUR AND EXPLOITATION OF LABOUR”
The Act extends to the whole of India
Requires the Central and State Govt. to fix minimum
rates of wages in certain scheduled employment.
Minimum wages fixed REVISED from time to time
within 5 yrs. -- Sec. 3(1)(b) Wages Sec. 2(h) All remunerations capable of being expressed in terms of money & includes HRA but does not include: Value of any house accommodation, supply of light, water Contribution to PF Any travelling allowance Any gratuity payable on discharge Important Sections Minimum Wage – weather to be paid in cash or kind (Sec 11) Payment of Minimum Wages is obligatory on employer (Sec 12) Wages of a worker who works less than normal working day (Sec 15) Offences and Penalties (Sec 22) Responsibility of the Employer
to follow the directions and fix wages of the
workers at the rate not less than the one fixed to maintain Register of Wages in form XI showing rate of wages payable, actual amount paid, attendance & overtime, deductions for EPF, ESI and other, net amount paid, date of payment and signature of respective employee. Wages slip in form XIII showing the above details to be given to every employee. THE PAYMENT OF BONUS ACT, 1965 An Act to provide for the payment of Bonus to persons in certain establishments on the basis of profits, production or productivity. Extends to the whole of India. Applies to every establishment wherein 20 or more are employed The Appropriate Govt. shall apply the Act to any other establishment, including a factory to which the Factories Act, 1948 applies, wherein less than 20 workers are employed provided the number of persons employed is not less than 10. Eligibility to Bonus employee whose salary/ wages does not exceed Rs 10000 per month who has worked in the establishment for not less than 30 days Not disqualified to claim bonus due to fraud, theft or any other misconduct Bonus of very person drawing salary between Rs 3500/- and Rs 10000/- per month shall be calculated as if his salary were Rs 3500 pm For calculating the number of working days the days for which the worker has been laid off the days he has been on leave with pay the days he has been absent due to temporary disablement caused by an employment injury the days a woman employee has been on maternity leave shall be taken in to account. Rate of Bonus
Minimum :8.33% of salary/wages
Maximum 20% of salary/wages Computation of bonus as per Schedule I to IV of the Act. Adjust any interim bonus paid while making payment of the final bonus. Disputes on Bonus The Bonus Act does not provide for any machinery to resolve disputes relating to bonus. For this, the Industrial Dispute Act shall be referred to. THE PAYMENT OF GRATUITY ACT, 1972 The Payment of Gratuity Act, 1972 extends to the whole of India.
Applies to every factory, mine, plantation
and other establishment wherein 10 or more workers are employed. Gratuity is in the nature of a retirement benefit payable to an employee for a long and meritorious service. • It is not paid to an employee gratuitously or merely as a matter of boon. It is paid for the service rendered by him to the employer (Delhi Cloth and General Mills Co; Ltd Vs The Workmen) Gratuity is payable to an employee on termination of his employment after he has rendered continuous service for not less than five years on his superannuation on his resignation on his death or disablement due to employment injury or disease
Payment of Gratuity shall be forfeited:
to the extent of the damage or loss caused by the
employee to the property of the employer where the service of the employee is terminated due to misconduct Rate of gratuity
15 days wages for every completed year
of service The average pay of the monthly rated employee shall be taken by dividing the monthly salary/ wages by 26 and not by 30 Piece rate workers and Seasonal establishments For piece rated workers, average of the three months wages immediately preceding the day of leaving shall be taken as average rate of wage An employee in a seasonal establishment shall be paid @ seven days wages for each season Salary ceiling The Amendment Act of 1994 removed the salary ceiling of an employee, but the maximum gratuity payable shall be Rs 3.5 lakh. Continuous Service An employee is in service in a calendar year provided he has worked for 190 days in case employee is employed below the ground and 240 days in any other case. Continuous service (contd.)
The days he/she has been
laid off under an agreement or under the ID Act or as permitted by the Standing Orders on leave with pay absent due to temporary disablement due to employment injury on maternity leave shall be taken as worked for the calculation of 190/240 days. For seasonal employment 75% attendance during a season shall constitute service in a year
An employee who has worked for 4 years
11 months and 10 days not eligible for gratuity as decided in P. Raghavalu and Sons Vs Additional Labour Court, Andhra Pradesh, as the qualifying phrases ‘part thereof in excess of six months’ shall be taken only for calculation of gratuity and not for determining the eligibility of gratuity. THANK YOU
2018 March B.com 4th Sem SH College Autonomous March Accounting For Managerial Decision Question Paper Goodwill Tuition Centre Thevara 9846710963 9567902805