Proposed Changes to the Payment of Bonus Act: How Will This Affect Your Salary?

Dear All,
Govt. has proposal to amend the Payment of Bonus Act , 1965.
· Increase eligibility criteria (wages limit ) to Rs.15 000/- from existing Rs. 10 000/-
· Minimum percentage of bonus will be 11% instead of existing 8.33%
· Rs. 5000/-as salary instead of existing Rs. 3500/ for the purpose of calculations

Thanks

Bala Panmand

Please find attached herewith the same for your kind information.

Thank you.

Regards,
Bala Panmand

This is just a bill that is yet to be passed. It is just a proposal, and unless it is passed in Lok Sabha, it cannot come into effect. Do you have a copy of the official gazette? If yes, then can you please attach it.

Regards,
Avinash K.

CLARIFICATION

Based on the notification published in the Gazette of India dated 5-3-2010, Pt. II-S.II Ext. P59 (No.3), the attached document is only a bill and not an act. The fate of the bill is unknown - whether it will be presented before the Parliament. Therefore, there is no need to act upon the said bill until it becomes an act.

Regards,
Shyam Pandirkar

Amendment Bill Clarification

This is just an Amendment Bill. When a bill is passed by both houses of Parliament, it becomes an Act and is accordingly notified in the official Gazette, mentioning the date of enforcement. Until that time, please wait.

Thanks,

Regards,
Anil Sharma
Sr. Manager - HR

I don't know why there is so much conversation on the issue. It is a bill only and is still to be passed by the government, though the same has been posted by the threader itself that it is only a proposal.

Bonus Amendment Bill

The government has proposed an amendment to the Payment of Bonus Act, 1965.

• Increase the eligibility criteria (wages limit) to Rs. 15,000/- from the existing Rs. 10,000/-.
• The minimum percentage of bonus will be 11% instead of the existing 8.33%.
• Rs. 5,000/- as salary instead of the existing Rs. 3,500/- for the purpose of calculation.

Will it be presented before the Parliament?

Latest Amendment in Bonus Act

Kindly let me know the latest amendment in the Bonus Act regarding the increase in eligibility criteria (wages limit) to Rs. 15,000/- from the existing Rs. 10,000/-.
• The minimum percentage of bonus will be 11% instead of the existing 8.33%.
• Rs. 5,000/- as salary instead of the existing Rs. 3,500/- for the purpose of calculation.

Is it still a bill or has it become an act? Kindly clear my doubt.

Thanks & regards,
Regards

Clarification on the Attached Bill

The attached bill is only a bill and not an act. No one knows about the fate of the bill—whether or not it will be presented before the Parliament. Hence, there is no need to act upon the said bill until it becomes an act.

Regards,
Shyam Pandirkar

Payment of Bonus Amendment 2015 is in force with a backdated effect of 1-4-14. Several state High Courts have stayed the back effect of the financial year 14-15. The wage ceiling of 10000 has been increased to 21000. The current limit of 3500 has been increased to 7000 or the applicable Minimum Wage, whichever is higher. The Gazette copy is attached.

VKSHAH
DEPUTY COMMISSIONER OF LABOUR
RAJKOT
GOVERNMENT OF GUJARAT

Email: dcl.vkshah@gmail.com

Payment of Bonus Amendment 2015 is in force with a backdate effect of 1-4-14. Several state High Courts have stayed the back effect of the financial year 14-15. The wage ceiling of 10000 has been increased to 21000. The current limit of 3500 has been increased to 7000 or the applicable Minimum Wage, whichever is higher. Gazette copy attached.

VKSHAH DEPUTY COMMISSIONER OF LABOUR RAJKOT GOVERNMENT OF GUJARAT

Email: dcl.vkshah@gmail.com