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Govt hikes wage ceiling for bonus to Rs 21,000

Last post January 8, 2016 07:39 AM by janki.hr. 1 repiles.

December 24, 2015 04:50 AM 1
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Post Date: January 8, 2016
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Govt hikes wage ceiling for bonus to Rs 21,000

The Lok Sabha has approved amendments to the Payment of Bonus Act that seeks to make more workers eligible for bonus by raising the monthly pay eligibility limit of employees to Rs 21,000 from Rs 10,000. 
 
The bill, tabled in the house earlier this month, also seeks to enhance the monthly bonus calculation ceiling to Rs 7,000 per month from Rs 3,500, thus substantially increasing the amount of bonus. 
 
Both the proposed changes are in line with the demands of 10 central trade unio .. 
 
Read more at:

http://economictimes.indiatimes.com/articleshow/50284285.cms?utm_source=contentofinterest&utm_medium=text&utm_campaign=cppst 

January 8, 2016 07:392
janki.hr
Total Posts: 18
Join Date: December 24, 2015
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Post Date: January 8, 2016
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Re: Govt hikes wage ceiling for bonus to Rs 21,000

The bill was introduced in Loksabha with effective date as 1 April 2015, but when it was passed the effective date was modified as 1 April 2014. Accordingly the final gazette notification also states the effective date as 1 April 2014.