Friends,
Pl find attached Payment of Bonus (Amendment) Bill 2015 as passed by Lok Sabha on 22.12.2015. Bill provides for following amendments:
1. Eligibility limit for payment of bonus increased from Rs.10,000 to Rs.21,000
2. Calculation ceiling increased from Rs.3,500 p.m. to Rs.7,000 p.m.
As per official amendment made to the Bill, the amendments have now been made effective retrospectively from 1st April 2014. Hence we will have to work out differential liability for 2014-15 and make payment accordingly.
Thanks
Pl find attached Payment of Bonus (Amendment) Bill 2015 as passed by Lok Sabha on 22.12.2015. Bill provides for following amendments:
1. Eligibility limit for payment of bonus increased from Rs.10,000 to Rs.21,000
2. Calculation ceiling increased from Rs.3,500 p.m. to Rs.7,000 p.m.
As per official amendment made to the Bill, the amendments have now been made effective retrospectively from 1st April 2014. Hence we will have to work out differential liability for 2014-15 and make payment accordingly.
Thanks
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