1
Hi You can get book on bonus act from any bookshop as well as u can find out the whole act on google by putting keyword — -" Bonus Act" katyana
From India, Gurgaon
From India, Gurgaon
Katyana, I understad, but htere are lot of books related to Bonus Act, i wanted to know any prefered book for the same.
From India, Bangalore
From India, Bangalore
Hi
The term " wages " refers to hourly rates of pay and salary refers to monthly rates of pay.
As per Bonus Act, bonus is always calculated on Basic salary. pl find the gazzetted notification below for this purpose.
Short title and
commencement.
THE PAYMENT OF BONUS (AMENDMENT) BILL, 2007
A
BILL
further to amend the Payment of Bonus Act, 1965.
BE it enacted by Parliament in the Fifty-eighth Year of the Republic of India as
follows:—
1. (1) This Act may be called the Payment of Bonus (Amendment) Act, 2007.
(2) It shall be deemed to have come into force on the 1st day of April, 2006.
2. In section 2 of the Payment of Bonus Act, 1965 (hereinafter referred to as the
principal Act), in clause (13), for the words “three thousand and five hundred rupees”, the
words “ten thousand rupees” shall be substituted.
3. In section 12 of the principal Act, for the words “two thousand and five hundred
rupees”, at both the places where they occur, the words “three thousand and five hundred
rupees” shall respectively be substituted.
4. In section 32 of the principal Act, clause (vi) shall be omitted.
5. (1) The Payment of Bonus (Amendment) Ordinance, 2007 is hereby repealed.
(2) Notwithstanding such repeal of the Payment of Bonus (Amendment) Ordinance,
2007, anything done or any action taken under the said Ordinance shall be deemed to have
been done or taken under the corresponding provisions of this Act.
Amendment of
section 2.
21 of 1965.
Amendment
of section 12.
Amendment
of section 32.
Ord. 8 of 2007.
Ord. 8 of 2007.
2. Section 32 of the Act excludes certain classes of employees from the application of
the Act such as employees in Life Insurance Corporation, Seamen, Dock workers, University
employees, employees employed through contractors on building operations, etc. Hence, it
is felt necessary to omit clause (vi) of section 32 of the Act so as to bring the employees
employed through contractors on building operations within the ambit of the Act.
3. As both the Houses of Parliament were not in session and the President was satisfied
that circumstances existed which rendered it necessary for her to take immediate action,
the Payment of Bonus (Amendment) Ordinance, 2007 (8 of 2007) was promulgated on the
27th October, 2007 amending the provisions of the Payment of Bonus Act, 1965.
4. The Payment of Bonus (Amendment) Ordinance, 2007 has,—
(i) substituted for the words "three thousand and five hundred rupees" the
words "ten thousand ruppes" in clause [13 of section 2 of the Payment of Bonus Act,
1965 (the Act)];
(ii) substituted for the words "two thousand and five hundred rupees" the
words "three thousand and five hundred rupees" in both the places where they occur
in section 12 of the Act;
(iii) omitted clause (vi) of section 32.
5. The Bill seeks to replace the aforesaid Ordinance.
NEW DELHI; OSCAR FERNANDES.
The 15th November, 2007.
————
PRESIDENT’S RECOMMENDATION UNDER ARTICLE 117 OF THE
CONSTITUTION OF INDIA
[Copy of letter No. S-33027/3/98-WB-I, dated the 14th November, 2007 from
Shri Oscar Fernandes, Minister of State for Labour and Employment to the Secretary-
General, Lok Sabha]
The President, having been informed of the subject matter of the proposed Payment of
Bonus (Amendment) Bill, 2007 recommends the introduction and consideration of the Bill in
the House under article 117 (1) and (3) of the Constitution.
2
FINANCIAL MEMORANDUM
Clause 2 of the Bill seeks to amend clause (13) of section 2 of the Payment of Bonus
Act, 1965 (the Act), to enhance the eligibility limit for the payment of bonus from three
thousand and five hundred rupees per mensem to ten thousand rupees per mensem. Clause
3 of the Bill seeks to amend section 12 of the Act for enhancing the ceiling from two thousand
and five hundred rupees per mensem to three thousand and five hundred rupees per mensem.
Clause 4 of the Bill seeks to amend section 32 of the Act by omission of clause (vi) so as to
bring the employees employed through contractors on building operations within the ambit
of the Act.
2. The additional expenditure on this account, from the Conslidated Fund of India may
be on increase of calculation ceiling from two thousand and five hundred rupees per mensem
to three thousand and five hundred rupees per mensem. If calculation celing is adopted by
the Government of India, the additional approximate expenditure for payment of adhoc
bonus to the Central Government employees and in respect of employees belonging to
Railways, Posts, etc. (Productivity Linked Bonus) will be to the tune of Rs. 125 crore and
Rs. 490 crore respectively. The additional approximate expenditure for payment of bonus to
the employees on Central Public Sector Undertakings would be around Rs. 143 crore.
3. The Bill does not involve any other recurring or non-recurring expenditure.
I have given a short brief of the amended bonus act. For further clarification u can mail me at
KATYANA
From India, Gurgaon
The term " wages " refers to hourly rates of pay and salary refers to monthly rates of pay.
As per Bonus Act, bonus is always calculated on Basic salary. pl find the gazzetted notification below for this purpose.
Short title and
commencement.
THE PAYMENT OF BONUS (AMENDMENT) BILL, 2007
A
BILL
further to amend the Payment of Bonus Act, 1965.
BE it enacted by Parliament in the Fifty-eighth Year of the Republic of India as
follows:—
1. (1) This Act may be called the Payment of Bonus (Amendment) Act, 2007.
(2) It shall be deemed to have come into force on the 1st day of April, 2006.
2. In section 2 of the Payment of Bonus Act, 1965 (hereinafter referred to as the
principal Act), in clause (13), for the words “three thousand and five hundred rupees”, the
words “ten thousand rupees” shall be substituted.
3. In section 12 of the principal Act, for the words “two thousand and five hundred
rupees”, at both the places where they occur, the words “three thousand and five hundred
rupees” shall respectively be substituted.
4. In section 32 of the principal Act, clause (vi) shall be omitted.
5. (1) The Payment of Bonus (Amendment) Ordinance, 2007 is hereby repealed.
(2) Notwithstanding such repeal of the Payment of Bonus (Amendment) Ordinance,
2007, anything done or any action taken under the said Ordinance shall be deemed to have
been done or taken under the corresponding provisions of this Act.
Amendment of
section 2.
21 of 1965.
Amendment
of section 12.
Amendment
of section 32.
Ord. 8 of 2007.
Ord. 8 of 2007.
2. Section 32 of the Act excludes certain classes of employees from the application of
the Act such as employees in Life Insurance Corporation, Seamen, Dock workers, University
employees, employees employed through contractors on building operations, etc. Hence, it
is felt necessary to omit clause (vi) of section 32 of the Act so as to bring the employees
employed through contractors on building operations within the ambit of the Act.
3. As both the Houses of Parliament were not in session and the President was satisfied
that circumstances existed which rendered it necessary for her to take immediate action,
the Payment of Bonus (Amendment) Ordinance, 2007 (8 of 2007) was promulgated on the
27th October, 2007 amending the provisions of the Payment of Bonus Act, 1965.
4. The Payment of Bonus (Amendment) Ordinance, 2007 has,—
(i) substituted for the words "three thousand and five hundred rupees" the
words "ten thousand ruppes" in clause [13 of section 2 of the Payment of Bonus Act,
1965 (the Act)];
(ii) substituted for the words "two thousand and five hundred rupees" the
words "three thousand and five hundred rupees" in both the places where they occur
in section 12 of the Act;
(iii) omitted clause (vi) of section 32.
5. The Bill seeks to replace the aforesaid Ordinance.
NEW DELHI; OSCAR FERNANDES.
The 15th November, 2007.
————
PRESIDENT’S RECOMMENDATION UNDER ARTICLE 117 OF THE
CONSTITUTION OF INDIA
[Copy of letter No. S-33027/3/98-WB-I, dated the 14th November, 2007 from
Shri Oscar Fernandes, Minister of State for Labour and Employment to the Secretary-
General, Lok Sabha]
The President, having been informed of the subject matter of the proposed Payment of
Bonus (Amendment) Bill, 2007 recommends the introduction and consideration of the Bill in
the House under article 117 (1) and (3) of the Constitution.
2
FINANCIAL MEMORANDUM
Clause 2 of the Bill seeks to amend clause (13) of section 2 of the Payment of Bonus
Act, 1965 (the Act), to enhance the eligibility limit for the payment of bonus from three
thousand and five hundred rupees per mensem to ten thousand rupees per mensem. Clause
3 of the Bill seeks to amend section 12 of the Act for enhancing the ceiling from two thousand
and five hundred rupees per mensem to three thousand and five hundred rupees per mensem.
Clause 4 of the Bill seeks to amend section 32 of the Act by omission of clause (vi) so as to
bring the employees employed through contractors on building operations within the ambit
of the Act.
2. The additional expenditure on this account, from the Conslidated Fund of India may
be on increase of calculation ceiling from two thousand and five hundred rupees per mensem
to three thousand and five hundred rupees per mensem. If calculation celing is adopted by
the Government of India, the additional approximate expenditure for payment of adhoc
bonus to the Central Government employees and in respect of employees belonging to
Railways, Posts, etc. (Productivity Linked Bonus) will be to the tune of Rs. 125 crore and
Rs. 490 crore respectively. The additional approximate expenditure for payment of bonus to
the employees on Central Public Sector Undertakings would be around Rs. 143 crore.
3. The Bill does not involve any other recurring or non-recurring expenditure.
I have given a short brief of the amended bonus act. For further clarification u can mail me at
KATYANA
From India, Gurgaon
Hi, GO FOR BONUS ACT BY H.L. KUMAR. He is a renowed writer and a practising lawyer in SUpreme Court of India. Katyana
From India, Gurgaon
From India, Gurgaon
Thanks a lot for your reply.In the act, nowhere it is mentioned whether it is applicable for basic or gross. The bottom-line is to convince my friend’s company or produce some doc showing that it is basic that they should consider and not gross although I am quite sure as also you have suggested that it is basic that has to be referred. Looking forward to your help
From India, Chennai
From India, Chennai
Community Support and Knowledge-base on business, career and organisational prospects and issues - Register and Log In to CiteHR and post your query, download formats and be part of a fostered community of professionals.
Bonus act amendment gazette copy.pdf
THE PAYMENT OF BONUS ACT.doc