Hi Members, I am looking for an official notification regarding the amendment mentioned below. Kindly help. In some newspapers, the implementation date is said to be 1st April 2015. Is this correct?
Amendment to the Payment of Bonus Act 1965
"The Union Cabinet, chaired by Prime Minister Narendra Modi on 21 October 2015, approved an amendment to the Payment of Bonus Act 1965 for industrial workers.
According to the decision:
• The bonus ceiling under the legislation was increased from 3,500 rupees to 7,000 rupees per month.
• The wage ceiling for receiving a bonus has also been increased from the existing 10,000 rupees per month to 21,000 rupees per month.
The decision will make more workers eligible for the reward. The amendment bill concerning this will be tabled in the winter session of Parliament, likely to start in November 2015. The amendment in the Act to increase the wage ceiling and the maximum amount of bonus was one of the assurances given by the Union Government after 10 Central Trade Unions went on a one-day strike.
Regards
From India, Vadodara
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382Amendment to the Payment of Bonus Act 1965
"The Union Cabinet, chaired by Prime Minister Narendra Modi on 21 October 2015, approved an amendment to the Payment of Bonus Act 1965 for industrial workers.
According to the decision:
• The bonus ceiling under the legislation was increased from 3,500 rupees to 7,000 rupees per month.
• The wage ceiling for receiving a bonus has also been increased from the existing 10,000 rupees per month to 21,000 rupees per month.
The decision will make more workers eligible for the reward. The amendment bill concerning this will be tabled in the winter session of Parliament, likely to start in November 2015. The amendment in the Act to increase the wage ceiling and the maximum amount of bonus was one of the assurances given by the Union Government after 10 Central Trade Unions went on a one-day strike.
Regards
From India, Vadodara
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Dear Mr. Bijay, The official notification is awaited. In a country like ours, it's time-consuming with lengthy procedures (passing the cabinet approval in both houses of parliament, subsequently President's assent, and then publication of the official Gazette Notification).
Until then, you should not rely solely on the news article published very recently. Please follow the existing bonus payment provisions under the Payment of Bonus Act, 1965/Rules.
If you are still not convinced, feel free to get in touch with me.
Regards,
Anil Sharma
Cell: [Phone Number Removed For Privacy Reasons]
From India, Pune
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Until then, you should not rely solely on the news article published very recently. Please follow the existing bonus payment provisions under the Payment of Bonus Act, 1965/Rules.
If you are still not convinced, feel free to get in touch with me.
Regards,
Anil Sharma
Cell: [Phone Number Removed For Privacy Reasons]
From India, Pune
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Payment of Bonus (Amendment) Act 2015.pdf