Friends,
Please find attached the Payment of Bonus (Amendment) Act 2015 as notified in the Official Gazette. The following amendments have been made in the Act:
1. The eligibility limit for the payment of bonus has been increased from Rs. 10,000 to Rs. 21,000.
2. The calculation ceiling has been increased from Rs. 3,500 per month to Rs. 7,000 per month.
These amendments have been made effective retrospectively from April 1, 2014. Therefore, we will need to calculate the differential liability for 2014-15 and make payments accordingly.
Thank you.
From India, Malappuram
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1446Please find attached the Payment of Bonus (Amendment) Act 2015 as notified in the Official Gazette. The following amendments have been made in the Act:
1. The eligibility limit for the payment of bonus has been increased from Rs. 10,000 to Rs. 21,000.
2. The calculation ceiling has been increased from Rs. 3,500 per month to Rs. 7,000 per month.
These amendments have been made effective retrospectively from April 1, 2014. Therefore, we will need to calculate the differential liability for 2014-15 and make payments accordingly.
Thank you.
From India, Malappuram
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Dear Sir/ Mam Thanks for sharing a useful information. Can you please guide that by what date we have to pay the increased Bonus for the FY 2014-15? Regards Pankaj
From India, New Delhi
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From India, New Delhi
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I read the same on other places on the internet also. As per CA Hitesh, the limit for coverage of employees and the limit for the calculation of bonuses has been increased (>link no longer exists - removed). But I am still confused like Pankaj on when the amendment was implementable?
From India, New Delhi
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From India, New Delhi
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Payment of Bonus act amemdment 2015.pdf