Dear All,
There seems to be a confusion regarding the amendments in the Payment of Bonus Act 1965. A lot of the members have claimed that the amendment bill has been passed and the new bonus will be 11% (bonus) +9% (ex-gratia) of Basic+DA, than the previous 8.33%+11.67%.
As per the information that i have, this bill was forwarded by Shri Oscar Fernandes, and is still pending. Once it is approved, it will be called Payment of Bonus Act, 2007.
If any one of u have a copy of the passed bill, request you to kindly share the same.
Regards,
Rahul Chhabra