Hi
By virtue of amendment namely: The Payment Of Bonus (Amendment) Act, 2015 which came into retrospective effect from 1st April, 2014 an employee drawing less than Rs.21,000/- per month is eligible for bonus under The Payment of Bonus Act.
For the purpose of calculation of bonus the employee salary will be taken as Rs.7000/- or the minimum wages whichever is higher.
Various High Court has given stay on the retrospective effect of applicability of the amendment. That means the employer has to comply with the amended provision from 1st April, 2015.
A copy of the aforesaid amendment is attached herewith.
Regards
P.S.Lakshmanan
S. G. Management Services
(PAN INDIA Consultant – Labour Law Compliance,
PF, ESI, P Tax, Benefit Management &
POSH COMPLIANCE) - KOLKATA