Rules and regulation under bonus act for employer in India ?

The Bonus Act, 1965 is an Indian legislation that outlines the rules and regulations governing the payment of bonuses to employees by employers. The key provisions of the act are as follows:
1.    Applicability: The act applies to every factory and every other establishment in which 20 or more persons are employed on any day during an accounting year.
2.    Calculation of bonus: The minimum bonus payable is 8.33% of the salary or wage earned by the employee during the accounting year. The maximum bonus payable is 20% of the salary or wage earned by the employee during the accounting year.
3.    Accounting year: The accounting year for the purpose of calculating the bonus shall be the financial year, i.e., from April 1 to March 31.
4.    Eligibility: An employee who has worked for not less than 30 working days in an accounting year is eligible to receive a bonus.
5.    Disqualification: An employee is disqualified from receiving a bonus if he has been dismissed from service for fraud or riotous or violent behavior while on the premises of the establishment.
6.    Payment of bonus: The bonus must be paid within 8 months from the close of the accounting year.
7.    Computation of profits: The amount of bonus payable to employees is computed on the basis of the available surplus in the accounting year.
8.    Maintenance of registers and records: Employers are required to maintain registers and records as prescribed under the act.
9.    Inspections and penalties: The act provides for inspections by authorized officials and penalties for contravention of the provisions of the act.
It is important for employers to comply with the provisions of the Bonus Act to avoid any legal consequences.