Hi All, I am looking for an official notification regarding the amendment mentioned below. Kindly help. In some newspapers, the implementation date is said to be 1st April 2015. Is it correct?
Amendment to the Payment of Bonus Act 1965
The Union Cabinet, chaired by Prime Minister Narendra Modi on 21 October 2015, approved an amendment to the Payment of Bonus Act 1965 for industrial workers.
According to the decision:
• The bonus ceiling under the legislation was increased from 3,500 rupees to 7,000 rupees per month.
• The wage ceiling for receiving a bonus has also been increased from the existing 10,000 rupees per month to 21,000 rupees per month.
The decision will make workers eligible for the reward. The amendment bill concerning this will be tabled in the winter session of Parliament, likely to start in November 2015.
The amendment in the Act to increase the wage ceiling and maximum amount of bonus was one of the assurances given by the Union Government after 10 Central Trade Unions went on a one-day strike.
Regards,
[Phone Number Removed For Privacy Reasons]
HR. Sr. Exe
From India, Chetpet
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2Amendment to the Payment of Bonus Act 1965
The Union Cabinet, chaired by Prime Minister Narendra Modi on 21 October 2015, approved an amendment to the Payment of Bonus Act 1965 for industrial workers.
According to the decision:
• The bonus ceiling under the legislation was increased from 3,500 rupees to 7,000 rupees per month.
• The wage ceiling for receiving a bonus has also been increased from the existing 10,000 rupees per month to 21,000 rupees per month.
The decision will make workers eligible for the reward. The amendment bill concerning this will be tabled in the winter session of Parliament, likely to start in November 2015.
The amendment in the Act to increase the wage ceiling and maximum amount of bonus was one of the assurances given by the Union Government after 10 Central Trade Unions went on a one-day strike.
Regards,
[Phone Number Removed For Privacy Reasons]
HR. Sr. Exe
From India, Chetpet
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The Payment Of Bonus Act 1965-Update-02- 01.01.16-Wage - 21K- Min Bons 7K-01.04.14.pdf
Payment of Bonus Act 1965.doc