Payment of Bonus Act, 1965 - MCQs with answers - Part 1

Payment of Bonus Act, 1965 - MCQs with answers - Part 1

1. State true or false.

i. Bonus is an ex - gratia payment.

a. True
b. False

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2. Which formula was given by labour appellate tribunal for the calculation of bonus?

a. Full bench formula
b. Accrual formula
c. Rounding formula
d. None of the above

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3. In which year did the government set up the tripartite commission?

a. 1951
b. 1972
c. 1961
d. 1965

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4. The bonus act is the outcome of the recommendation made by the _________.

a. State government
b. Central government
c. Labour Court
d. Tripartite commission

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5. On which date was the bonus act implemented by the government?

a. 2nd September, 1980
b. 2nd September, 1965
c. 1st September, 1965
d. 3rd September, 1965

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6. The act is not applicable to _______ except those operating in competition with similar other private undertakings.

a. Public enterprises
b. Private enterprises
c. Factories
d. Banks except RBI and LIC

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7. Which section in the act deals with the computation of available surplus?

a. Section 3
b. Section 3A
c. Section 5
d. Section 1

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8. State true or false

i. Under section 32 of income tax act, any amount by way of depreciation admissible in accordance is deductible from the gross profit calculation.

a. True
b. False

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9. Complete the formula used for calculating bonus for basic salary which is more than 3500.
Bonus = _______ * (Bonus Months)* 20%

a. Basic salary
b. Ex gratia
c. 3500
d. 8400

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10. As per the act what is the minimum number of days an employee must have worked in an establishment to be eligible for bonus?

a. 240 working days
b. 30 working days
c. 120 working days
d. 365 working days

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