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Payment of Bonus Act, 1965

32. Act not to apply to certain classes of employees

Nothing in this Act shall apply to,-

( i ) 27[employees employed by any insurer carrying on general insurance business and the] employees employed by the Life Insurance Corporation of India;

(ii) seamen as defined in clause (42) of section 3 of the Merchant Shipping Act, 1958 (44 of 1958);

(iii) employees registered or listed under any scheme made under the Dock Workers (Regulation of Employment) Act, 1948, (9 of 1948), and employed by registered or listed employers;

(iv) employees employed by an establishment engaged in any industry carried on by or under the authority of any department of the Central Government or a State Government or a local authority;

(v) employees employed by,-

(a) the Indian Red Cross Society or any other institution of a like nature (including its branches);

(b) universities and other educational institutions;

(c) institutions (including hospitals, chambers of commerce and social welfare institutions) established not for purposes of profit;

(vi) employees employed through contractors on building operations;

(vii) employees employed by the Reserve Bank of India;

(viii) employees employed by,-

(a) the Industrial Finance Corporation of India;

(b) any financial corporation established under section 3, or any joint financial corporation established under Section 3A, of the State Financial Corporations Act, 1951 (63 of 1951);

(c) the Deposit Insurance Corporation;

28 [(d) The National Bank of Agriculture and Rural Development;]

(e) the Unit Trust of India;

(f) the Industrial Development Bank of India;

29 [( fa ) the Small Industries Development Bank of India established under Section 3 of the Small Industries Development Bank of India Act, 1989;]

30 [(ff) the National Housing Bank;]

(g) any other financial institution 6[other than a banking company] being an establishment in public sector, which the Central Government may, by notification in the Official Gazette, specify, having regard to,-

( i ) its capital structure;

(ii) its objectives and the nature of its activities;

(iii) the nature and extent of financial assistance or any concession given to it by the government; and

(iv) any other relevant factor;

(ix) employees employed by inland water transport establishments operating on routes passing through any other country.

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