What the Bonus Act Amendment states? Need Clear idea about all the amendments of Bonus Act,1965,1975 etc
From India, Hyderabad
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From India, Hyderabad
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Understanding the Bonus Act Amendments
Your query is not specific and is quite vague. Which amendment(s) in the Bonus Act are you looking for? This Act of 1965 has been amended several times in the past. Why do you need all the amendments now? It is important to focus on the current law.
In this forum, there are several discussions on the current law regarding bonuses. The latest gazetted notification pertains to filing the return online, which is also available here if you search.
Major Amendments in the Bonus Act
The major amendments in this Act were made in 1985, 1995, and 2007, enhancing the eligible salary limit and ceiling limit for the calculation of bonuses as follows, ever since the law was enacted in 1965:
Year / Salary Limit / Ceiling Limit
- 1965 / 1600 / 750
- 1985 / 2500 / 1600
- 1995 / 3500 / 2500
- 2007 / 1000 / 3500
Through the amendment of 2007, construction employees engaged by contractors are also covered under the Payment of Bonus Act, effective from 01.04.2006.
The Government of Maharashtra, through its ordinance dated 17.09.2010, has mandated the payment of bonuses through cheque or bank account only. I am not aware of the regulations in other states.
Regards,
From India, Mumbai
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2584Your query is not specific and is quite vague. Which amendment(s) in the Bonus Act are you looking for? This Act of 1965 has been amended several times in the past. Why do you need all the amendments now? It is important to focus on the current law.
In this forum, there are several discussions on the current law regarding bonuses. The latest gazetted notification pertains to filing the return online, which is also available here if you search.
Major Amendments in the Bonus Act
The major amendments in this Act were made in 1985, 1995, and 2007, enhancing the eligible salary limit and ceiling limit for the calculation of bonuses as follows, ever since the law was enacted in 1965:
Year / Salary Limit / Ceiling Limit
- 1965 / 1600 / 750
- 1985 / 2500 / 1600
- 1995 / 3500 / 2500
- 2007 / 1000 / 3500
Through the amendment of 2007, construction employees engaged by contractors are also covered under the Payment of Bonus Act, effective from 01.04.2006.
The Government of Maharashtra, through its ordinance dated 17.09.2010, has mandated the payment of bonuses through cheque or bank account only. I am not aware of the regulations in other states.
Regards,
From India, Mumbai
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THE PAYMENT OF BONUS ACT(with amendments & comments) 1965.docx
Amendment to Payment of Bonus Act 2015.jpg
Bigger bonuses for more as Lok Sabha amends Payment of Bonus Act - The Economic Times.pdf