Friends,
Please find attached the Payment of Bonus (Amendment) Bill 2015 as passed by the Lok Sabha on 22.12.2015. The Bill provides for the following amendments:
1. The eligibility limit for the payment of bonus has been increased from Rs. 10,000 to Rs. 21,000.
2. The calculation ceiling has been raised from Rs. 3,500 p.m. to Rs. 7,000 p.m.
According to the official amendment made to the Bill, these amendments have now been made effective retrospectively from 1st April 2014. Therefore, we will need to calculate the differential liability for 2014-15 and make payments accordingly.
Thanks
From India, Malappuram
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1454Please find attached the Payment of Bonus (Amendment) Bill 2015 as passed by the Lok Sabha on 22.12.2015. The Bill provides for the following amendments:
1. The eligibility limit for the payment of bonus has been increased from Rs. 10,000 to Rs. 21,000.
2. The calculation ceiling has been raised from Rs. 3,500 p.m. to Rs. 7,000 p.m.
According to the official amendment made to the Bill, these amendments have now been made effective retrospectively from 1st April 2014. Therefore, we will need to calculate the differential liability for 2014-15 and make payments accordingly.
Thanks
From India, Malappuram
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I appreciate the efforts of Shri P.C. Agrawal for posting the copy of the passed bill for the awareness of one and all.
Of course, it is good news for the entire working class that the Payment of Bonus (Amendment) Bill 2015, to increase the Bonus Calculation Ceiling and eligibility ceiling, has been passed in Lok Sabha on 22.12.2015. It is slated to come into force with effect from 1st April 2014.
But management should also be ready to work overtime to meet the double liability from the back date of its effect (2014-15) for the payment of arrears of bonus with effect from 01.04.2014, as soon as it takes the shape of the Act on completion of other necessary formalities.
As per the provisions of the Bonus bill, the Bonus Calculation ceiling is raised from 3500 to 7000 and the eligibility ceiling of wage from 10000 to 21000 per month. Earlier, the Cabinet gave its approval for this Bonus bill and said it would come into effect from 1.4.2015 after being passed in Parliament. However, now, as per the statement of Labour Minister Bandaru Dattatreya, at the intervention of the Prime Minister of India, by moving an official amendment to the Bill, the benefits of this Act are going to be made available from 1st April 2014, instead of 2015.
From India, Delhi
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Of course, it is good news for the entire working class that the Payment of Bonus (Amendment) Bill 2015, to increase the Bonus Calculation Ceiling and eligibility ceiling, has been passed in Lok Sabha on 22.12.2015. It is slated to come into force with effect from 1st April 2014.
But management should also be ready to work overtime to meet the double liability from the back date of its effect (2014-15) for the payment of arrears of bonus with effect from 01.04.2014, as soon as it takes the shape of the Act on completion of other necessary formalities.
As per the provisions of the Bonus bill, the Bonus Calculation ceiling is raised from 3500 to 7000 and the eligibility ceiling of wage from 10000 to 21000 per month. Earlier, the Cabinet gave its approval for this Bonus bill and said it would come into effect from 1.4.2015 after being passed in Parliament. However, now, as per the statement of Labour Minister Bandaru Dattatreya, at the intervention of the Prime Minister of India, by moving an official amendment to the Bill, the benefits of this Act are going to be made available from 1st April 2014, instead of 2015.
From India, Delhi
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In addition to the above, I am attaching the most recent information on the Minimum Wages of all the 36 States of India, as applicable on 01.12.2015, in the attached table. The table is based on the authentic information provided by Shri Bandaru Dattatreya, the Minister of State (IC) for Ministry of Labour and Employment in reply to a question in the Lok Sabha on 07.12.2015.
The members of this forum may like to update their information.
From India, Delhi
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The members of this forum may like to update their information.
From India, Delhi
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w.r.t. above query I would like to ask to all seniors that, what I understood from above amendment is instead of 8400/- bonus amount we need to pay 16800/- for bonus. Please correct me if i am wrong.
From India, Nagpur
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From India, Nagpur
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Dear Agrawal ji,
Thank you for uploading the amended bonus bill by the government. If you could provide the Gazette Notification of the new amended Bonus Act, it would be highly appreciated. (At the earliest, please).
Regards,
PBS KUMAR
From India, Kakinada
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Thank you for uploading the amended bonus bill by the government. If you could provide the Gazette Notification of the new amended Bonus Act, it would be highly appreciated. (At the earliest, please).
Regards,
PBS KUMAR
From India, Kakinada
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Pl find attached Official Gazette notification for the Amendment Act... Thanks
From India, Malappuram
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From India, Malappuram
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With The Amendment In Payment Of Bonus Act 2015
In Section 12 Of The Principal Act,€”
(I) For The Words €˜Â€˜Three Thousand And Five Hundred Rupees’€™ At Both The Places
Where They Occur, The Words €˜Â€˜Seven Thousand Rupees Or The Minimum Wage For The
Scheduled Employment, As Fixed By The Appropriate Government, Whichever Is Higher’€™
Shall Respectively Be Substituted;
But Minimum Wages Are Higher Than Rs. 7000/- In UP For Engineering Industries & It Revised Two Times In A Year I.E Wef Feb And Wef Aug Every Year.
So How We Should Do Calculation. Should We Take Yearly Average In this Case Or Should Take Monthly Minimum Wages For Calculation Purpose. Minimum Wages are Different For Unskilled/Semiskilled/Skilled Category.
We Have Already Paid Ex-Gratia For Year 2014-15 So Can We Adjust Ex-Gratia Payment In Bonus As Now The Person Is Covered Under Bonus As Per The Amendment.
At Last When We Have To Pay Arrear ? Can We Pay Next Year ? Or We Have Pay Now.
Request The Senior IR Professionals Or Labour Law Advisors/Advocates To Pl. Guide In The Matter.
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In Section 12 Of The Principal Act,€”
(I) For The Words €˜Â€˜Three Thousand And Five Hundred Rupees’€™ At Both The Places
Where They Occur, The Words €˜Â€˜Seven Thousand Rupees Or The Minimum Wage For The
Scheduled Employment, As Fixed By The Appropriate Government, Whichever Is Higher’€™
Shall Respectively Be Substituted;
But Minimum Wages Are Higher Than Rs. 7000/- In UP For Engineering Industries & It Revised Two Times In A Year I.E Wef Feb And Wef Aug Every Year.
So How We Should Do Calculation. Should We Take Yearly Average In this Case Or Should Take Monthly Minimum Wages For Calculation Purpose. Minimum Wages are Different For Unskilled/Semiskilled/Skilled Category.
We Have Already Paid Ex-Gratia For Year 2014-15 So Can We Adjust Ex-Gratia Payment In Bonus As Now The Person Is Covered Under Bonus As Per The Amendment.
At Last When We Have To Pay Arrear ? Can We Pay Next Year ? Or We Have Pay Now.
Request The Senior IR Professionals Or Labour Law Advisors/Advocates To Pl. Guide In The Matter.
Acknowledge(0)Amend(0)
Dear Sir,
I have a little confusion as our organization is a Private Limited company situated in Faridabad, Haryana. I want to know if this amendment is applicable for limited or private limited companies or only for Government sectors. Please help me out.
From India, Delhi
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I have a little confusion as our organization is a Private Limited company situated in Faridabad, Haryana. I want to know if this amendment is applicable for limited or private limited companies or only for Government sectors. Please help me out.
From India, Delhi
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Sir, Previously gazette notification has been circulated but right now it was stayed by kerala high court order enclosed for the reference. Thanks & Regards, From, Sumit Kumar Saxena
From India, Ghaziabad
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From India, Ghaziabad
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Respected Seniors,
As per my understanding, under the new Bonus amendment, Wages Considered for Bonus Payment are INR Rs. 7000 (Rupees Seven Thousand only) or Wages Earned as per Minimum Wages Rate, whichever is higher per month.
Sl. No. Name of workmen Day Rate as per Minimum Wages No of Days Worked Wages Earned Wages Considered #
1 A 278 25 6950 7000
2 B 337 25 8425 8425
But my query is that if a workman in any month works for 2/3 days; shall we have to consider his wages as Rs. 7000/- for the calculation of Bonus or have to consider his actual wages?
Sl. No. Name of workmen Day Rate as per Minimum Wages No of Days Worked Wages Earned Wages Considered #
1 A 278 5 1390 ***Rs. 7000/- or Rs. 1390/-
Kindly suggest.
Best Regards,
Shiv.
From India, Aizawl
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As per my understanding, under the new Bonus amendment, Wages Considered for Bonus Payment are INR Rs. 7000 (Rupees Seven Thousand only) or Wages Earned as per Minimum Wages Rate, whichever is higher per month.
Sl. No. Name of workmen Day Rate as per Minimum Wages No of Days Worked Wages Earned Wages Considered #
1 A 278 25 6950 7000
2 B 337 25 8425 8425
But my query is that if a workman in any month works for 2/3 days; shall we have to consider his wages as Rs. 7000/- for the calculation of Bonus or have to consider his actual wages?
Sl. No. Name of workmen Day Rate as per Minimum Wages No of Days Worked Wages Earned Wages Considered #
1 A 278 5 1390 ***Rs. 7000/- or Rs. 1390/-
Kindly suggest.
Best Regards,
Shiv.
From India, Aizawl
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Payment of Bonus Amendment Bill, 2015.pdf
Kerala High Court Stay_ Payment of Bonus (Act) Amendment.jpg