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jubairieasalimMCQ
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jubairieasalim1. What is the minimum bonus payable under the Payment of Bonus Act, 1965?
a) 10% of salary or wages
b) 8.33% of salary or wages
c) 12% of salary or wages
d) 20% of salary or wages
Answer: b) 8.33% of salary or wages
2. What is the maximum bonus payable under the Act?
a) 10%
b) 15%
c) 18%
d) 20%
Answer: d) 20%
3. To which establishments does the Payment of Bonus Act apply?
a) Establishments with 5 or more employees
b) Establishments with 10 or more employees
c) Establishments with 20 or more employees
d) All government organizations
Answer:c) Establishments with 20 or more employees
4. The bonus must be paid within how many months from the close of the accounting
year?
a) 6 months
b) 8 months
c) 12 months
d) 3 months
Answer: b) 8 months
5. What is the name of the law that gives employees the right to a bonus?
a) Income Tax Act
b) Payment of Bonus Act
c) Labour Welfare Act
d) Bonus and Allowances Act
Answer: b) Payment of Bonus Act
6.Why is the Payment of Bonus Act made?
a) To punish employees
b) To collect taxes
c) To give bonus to workers
d) To provide loans
Answer: c) To give bonus to workers
7. Who can get a bonus under this law?
a) Only managers
b) Only owners
c) Workers earning ₹21,000 per month
d) People with no job
Answer: c) Workers earning ₹21,000 per month
8.Bonus is given to employees as a part of:
a) Loan
b) Salary deduction
c) Profit sharing
d) Tax refund
Answer: c) Profit sharing
9.How many days must a worker work in a year to be eligible for bonus?
a) 30 days
b) 100 days
c) 240 days
d) 50 days
Answer: a) 30 days
10.What does EPF stand for?
a) Employees Payment Fund
b) Employees Provident Fund
c) Employer Provident Fund
d) Emergency Provident Fund
Answer: b) Employees Provident Fund
11.Which organization manages the EPF in India?
a) SEBI
b) RBI
c) EPFO
d) IRDAI
Answer: c) EPFO (Employees’ Provident Fund Organisation)
12.What percentage of basic salary does an employee contribute to EPF?
a) 5%
b) 10%
c) 12%
d) 15%
Answer: c) 12%
13. EPF applies to companies with how many or more employees?
a) 5
b) 10
c) 20
d) 50
Answer: c) 20
14. Which of the following is a benefit of EPF?
a) Free meals
b) Retirement savings with interest
c) Monthly shopping coupons
d) Health check-ups
Answer: b) Retirement savings with interest
15. A contract that is enforceable by law at the option of one party is called:
a) Void
b) Voidable
c) Illegal
d) Valid
Answer: b) Voidable
16. Who gives money to the Provident Fund?
a) Only the government
b) Only the employee
c) Both employee and employer
d) Only the employer
Answer: c) Both employee and employer
17. Do small companies with less than 20 workers have to follow EPF rules?
a) Yes, always
b) No, never
c) Only if they want
d) Only after 20 workers
Answer: d) Only after 20 workers
18. When was the Indian Contract Act passed?
a) 1956
b) 1932
c) 1872
d) 1947
Answer: c) 1872
19.A contract is an agreement that is:
a) Not enforceable by law
b) Enforceable by law
c) Optional
d) Only verbal
Answer: b) Enforceable by law
20. Which one of the following is essential for a valid contract?
a) Agreement
b) Offer and acceptance
c) Free consent
d) All of the above
Answer: d) All of the above
21.An agreement not enforceable by law is called:
a) Contract
b) Promise
c) Void agreement
d) Valid agreement
Answer: c) Void agreement
22.When both parties agree in the same sense, it is called:
a) Misunderstanding
b) Coercion
c) Consensus ad idem
d) Misrepresentation
Answer: c) Consensus ad idem
23.A contract made under pressure or threat is caused by:
a) Free consent
b) Undue influence
c) Coercion
d) Mistake
Answer: c) Coercion
24.A proposal when accepted becomes a:
a) Promise
b) Contract
c) Agreement
d) Understanding
Answer: a) Promise
25.A contract without consideration is:
a) Valid
b) Voidable
c) Void, unless it fits exceptions
d) Illegal