Section 50A:
Bonus.
1[50A. Bonus.--(1) No officer, adviser or other employee other than an employee within the
meaning of clause (13) of section 2 of the Payment of Bonus Act, 1965 (21 of 1965) of a subsidiary
bank shall be entitled to be paid any bonus.
(2) No employee of a subsidiary bank, being an employee within the meaning of clause (13) of
section 2 of the Payment of Bonus Act, 1965(21 of 1965), shall be entitled to be paid any bonus
except in accordance with the provisions of that Act.
(3) The provisions of this section shall have effect notwithstanding any judgment, decree or order
of any court, tribunal or other authority and notwithstanding anything contained in any other provision
of this Act or in the Industrial Disputes Act, 1947 (14 of 1947), or any other law for the time being in
force or any practice, usage or custom or any contract, agreement, settlement, award or other
instrument.]
Notes:
1. Ins. by Act 64 of 1984, s. 3 (w.e.f. 11-9-1984).