The Payment of Bonus Act, 1965 is the ultimate act for the payment of bonuses to the employees, which was built with the aim of rewarding employees for their good work done for the organization. It is a step ahead to share the accomplishment of the establishment, reflected by the profits earned by the contributions and made by capital, management, and labor with the workers. The objective of this act is as follows.
As per section 27 of the payment of Bonus Act, 1965, The Government may, by notification in the Official Gazette, appoint such persons as it deems fit to be Inspectors for the purpose of this Act and may determine the limits within which they shall exercise authority.
Powers of the inspector are defined as follows.
Now, as per section 27 of the payment of Bonus Act, 1965.
3. Every inspector shall be deemed to be a public servant within the meaning of the Indian penal Code (45 of 1860).
4. Any person required to compose any accounts, book, register or other documents or give report by an inspector under sub-section (1) shall be lawfully obliged to do so.
These are the powers of inspectors under payment of bonus act, 1965.
The term Intellectual Property (IP) refers to the inventions or works that are developed as a result of the creative mind of the individual.
There have been many discussions regarding whether India is a federal state or not. When we see the characteristics of the federal-state, then we find that one of the characteristics is the distribution of taxes.