BEDI CONSULTANCY

Shivpuri, Ludhiana, Punjab

Know more from Bedi Consultancy, about Bonus Payment for Employees at Work in India. Get information about Payment of Bonus Act, Bonus Eligibility, Applicability, Calculation of Bonus etc. Bonus is a reward that is paid to an employee for his good work towards the organisation. The basic objective to give bonus is to share the profit earned by the organisation amongst the employees and staff members. In India there is a principle law relating to this procedure of payment of bonus to the employees and that principle law is named as Payment of Bonus Act, 1965. THE PAYMENT OF BONUS ACT, 1965The Payment of Bonus Act, 1965 provides for the payment of bonus to persons employed in certain establishments, employing 20 or more persons, on the basis of profits or on the basis of production or productivity and matters connected there with. The minimum bonus of 8.33% is payable by every industry and establishment under section 10 of the Act. The maximum bonus including productivity linked bonus that can be paid in any accounting year shall not exceed 20% of the salary/wage of an employee under the section 31 A of the Act.

We at Bedi Consultancy Services provides complete and best services to the business in different sectors as the best and noteworthy Factories Act Consultant. The complete compliances as per the Factories Act, 1948 require a great experience and skill on the administrative front for the best services. Being the preeminent service provider as Factories Act Consultant, we have the team of the most experienced and expert staffs who provide our client with the best service in respect of knowledge and technologically driven system. Thus, allowing your establishment to keep their focus on the core business matters. Different Services Provides as Factories Act ConsultantWe provide all kind of services and support under the Factories Act, 1948 to the Factories for the process of registration and getting a Factory License from the concerned Department. Our services also include maintenance and submission of various documents like: -- Providing support and preparation of various returns as per the Factories Act, 1948.- Maintenance of various registers required under the Factories Act, 1948.- Providing complete support and assistance in testing or equipment along with maintenance of the report in every year.- Preparation of forms like:--- Change in the name of manager or occupier whenever required in Form No. 2-A-- Providing Form No.18 regarding notice of accidents or any kind of dangerous occurrences and submission of the same in 24 hours by registered post.These are the basic services provide by SGC Management Services in the role of the Factories Act Consultant. Factory Act Consultancy ServicesFactory Registration and obtaining Factory Licence from the Department. Maintenance and submission of the following statutory Records / Returns etc. under Factories act, 1948

Contract Labour Act Services- Registration under the The Contract Labour (Regulation & Abolition) Act, 1970- Annual Return in Form No. XXV [See rule82(2)]- Half-yearly Return in Form XXIV [See rule 82(1)]- Renewal of Licence - Guidelines & Maintenance of Records under the Act such as Register of Contractor in Form XII, XIII, XIV, XV, XVI, XVII, XVIII, XIX etc. The Government of India has been deeply concerned about the exploitation of workers under the contract labour system. With a view to removing the difficulties of contract labour and bearing in mind the recommendations of various commissions and committees and the decisions of the Supreme Court, particularly in the case of Standard Vacuum Refining Company in 1960, the Contract Labour (Regulation and Abolition) Act was enacted in 1970. This Act seeks to regulate the employment of contract labour in certain establishments and to provide for its abolition under certain circumstances. Contract Labour, by and large, is neither borne on pay roll or muster roll nor is paid wages directly. The establishments, which farm out work to contractors, do not own any direct responsibility in regard to their labourers. Generally, the wage rates to be paid and observance of working conditions are stipulated in agreements but in practice they are not strictly adhered to.