Government on Monday introduced a bill in Lok Sabha that seeks to enhance the pay eligibility limit of an employee for a bonus to Rs. 21,000 per month, from Rs. 10,000, to make more workers eligible for the benefit. The Payment of Bonus (Amendment) Bill, 2015 also seeks to increase the monthly bonus calculation ceiling to Rs. 7,000 per month from the existing Rs. 3,500. It will significantly increase the quantum of the bonus.
The amendment bill will be effective from April 1, 2015. The bill will amend the Payment of Bonus Act, 1965, which is applicable to every factory and other establishment in which 20 or more persons are employed on any day during an accounting year. The bill also provides for a new proviso in Section 12, which empowers the central government to vary the basis of computing the bonus.
From India, Thana
Acknowledge(0)
Amend(0)
59The amendment bill will be effective from April 1, 2015. The bill will amend the Payment of Bonus Act, 1965, which is applicable to every factory and other establishment in which 20 or more persons are employed on any day during an accounting year. The bill also provides for a new proviso in Section 12, which empowers the central government to vary the basis of computing the bonus.
From India, Thana
Acknowledge(0)Amend(0)
Hi Buddy,
The above amendment bill is notified in the government gazette. The above post conveyed that the bill is introduced in LS. Did the same bill pass in both houses of parliament, receive presidential assent, and get notified?
Please shed some light on this, friends.
With Regards,
Mr. Thumbs Up
From India, Chennai
Acknowledge(0)Amend(0)
The above amendment bill is notified in the government gazette. The above post conveyed that the bill is introduced in LS. Did the same bill pass in both houses of parliament, receive presidential assent, and get notified?
Please shed some light on this, friends.
With Regards,
Mr. Thumbs Up
From India, Chennai
Acknowledge(0)Amend(0)Engage with peers to discuss and resolve work and business challenges collaboratively - share and document your knowledge. Our AI-powered platform, features real-time fact-checking, peer reviews, and an extensive historical knowledge base. - Join & Be Part Of Our Community.
Central-Governm ent- of-India-Holida y-List 2016.pdf
Central-Governm ent- of-India-Holida y-List 2016-page-001.j pg