Friends,
Pl find attached Payment of Bonus (Amendment) Bill 2015 as passed by Lok Sabha on 22.12.2015. Bill provides for following amendments:
1. Eligibility limit for payment of bonus increased from Rs.10,000 to Rs.21,000
2. Calculation ceiling increased from Rs.3,500 p.m. to Rs.7,000 p.m.
As per official amendment made to the Bill, the amendments have now been made effective retrospectively from 1st April 2014. Hence we will have to work out differential liability for 2014-15 and make payment accordingly.
Thanks
From India, Malappuram
1444Pl find attached Payment of Bonus (Amendment) Bill 2015 as passed by Lok Sabha on 22.12.2015. Bill provides for following amendments:
1. Eligibility limit for payment of bonus increased from Rs.10,000 to Rs.21,000
2. Calculation ceiling increased from Rs.3,500 p.m. to Rs.7,000 p.m.
As per official amendment made to the Bill, the amendments have now been made effective retrospectively from 1st April 2014. Hence we will have to work out differential liability for 2014-15 and make payment accordingly.
Thanks
From India, Malappuram
I appreciate the efforts of Shri P.C. Agrawal for posting the copy of the passed bill for the awareness of one and all.
Of course, it is a good news for the entire working class that Payment of Bonus (Amendment) Bill 2015 to increase the Bonus Calculation Ceiling and eligibility ceiling has been Passed in Lok Shabha on 22.12.2015. It is slated for coming into force with effect from 1st April 2014.
But management should also be ready to work overtime to meet with the double liability from the back date of its effect (2014-15) for payment of arrears of bonus with effect from 01.04.2014, as soon as it takes the shape of the Act on completion of other necessary formalities.
As per the provisions of Bonus bill the Bonus Calculation ceiling is raised from 3500 to 7000 and eligibility ceiling of wage from 10000 to 21000 per month. Earlier Cabinet gave its approval for this Bonus bill and said it will come into effect from 1.4.2015 after passed in Parliament. BUT NOW, as per the statement of Labour Minister Bandaru Dattatreya, at the intervention of the Prime Minister of India, by moving an official amendment to the Bill, the benefits of this Act are going to be made available from 1st April 2014, instead of 2015.
From India, Delhi
Of course, it is a good news for the entire working class that Payment of Bonus (Amendment) Bill 2015 to increase the Bonus Calculation Ceiling and eligibility ceiling has been Passed in Lok Shabha on 22.12.2015. It is slated for coming into force with effect from 1st April 2014.
But management should also be ready to work overtime to meet with the double liability from the back date of its effect (2014-15) for payment of arrears of bonus with effect from 01.04.2014, as soon as it takes the shape of the Act on completion of other necessary formalities.
As per the provisions of Bonus bill the Bonus Calculation ceiling is raised from 3500 to 7000 and eligibility ceiling of wage from 10000 to 21000 per month. Earlier Cabinet gave its approval for this Bonus bill and said it will come into effect from 1.4.2015 after passed in Parliament. BUT NOW, as per the statement of Labour Minister Bandaru Dattatreya, at the intervention of the Prime Minister of India, by moving an official amendment to the Bill, the benefits of this Act are going to be made available from 1st April 2014, instead of 2015.
From India, Delhi
In addition to above, I am attaching the most latest information on the Minimum Wages of all the 36 States of India, as applicable on 01.12.2015, in the attached Table. The table is based on the authentic information provided by Shri Bandaru Dattatreya, the Minister of State (IC) for Ministry Labour and Employment in reply to a question in Lok Sabha on 07.12.2015.
The Members of this Forum may like to update their information.
From India, Delhi
The Members of this Forum may like to update their information.
From India, Delhi
Dear Agrwal ji,
THANKS FOR UPLOADED THE AMMENDED BONUS BILL BY THE GOVERNMENT. If you supply the Gazette Notification of New ammended Bonus Act will be highly appreciated.(At the earliest please).
Regards,
PBS KUMAR
From India, Kakinada
THANKS FOR UPLOADED THE AMMENDED BONUS BILL BY THE GOVERNMENT. If you supply the Gazette Notification of New ammended Bonus Act will be highly appreciated.(At the earliest please).
Regards,
PBS KUMAR
From India, Kakinada
With The Amendment In Payment Of Bonus Act 2015
In Section 12 Of The Principal Act,€”
(I) For The Words €˜Â€˜Three Thousand And Five Hundred Rupees’€™ At Both The Places
Where They Occur, The Words €˜Â€˜Seven Thousand Rupees Or The Minimum Wage For The
Scheduled Employment, As Fixed By The Appropriate Government, Whichever Is Higher’€™
Shall Respectively Be Substituted;
But Minimum Wages Are Higher Than Rs. 7000/- In UP For Engineering Industries & It Revised Two Times In A Year I.E Wef Feb And Wef Aug Every Year.
So How We Should Do Calculation. Should We Take Yearly Average In this Case Or Should Take Monthly Minimum Wages For Calculation Purpose. Minimum Wages are Different For Unskilled/Semiskilled/Skilled Category.
We Have Already Paid Ex-Gratia For Year 2014-15 So Can We Adjust Ex-Gratia Payment In Bonus As Now The Person Is Covered Under Bonus As Per The Amendment.
At Last When We Have To Pay Arrear ? Can We Pay Next Year ? Or We Have Pay Now.
Request The Senior IR Professionals Or Labour Law Advisors/Advocates To Pl. Guide In The Matter.
In Section 12 Of The Principal Act,€”
(I) For The Words €˜Â€˜Three Thousand And Five Hundred Rupees’€™ At Both The Places
Where They Occur, The Words €˜Â€˜Seven Thousand Rupees Or The Minimum Wage For The
Scheduled Employment, As Fixed By The Appropriate Government, Whichever Is Higher’€™
Shall Respectively Be Substituted;
But Minimum Wages Are Higher Than Rs. 7000/- In UP For Engineering Industries & It Revised Two Times In A Year I.E Wef Feb And Wef Aug Every Year.
So How We Should Do Calculation. Should We Take Yearly Average In this Case Or Should Take Monthly Minimum Wages For Calculation Purpose. Minimum Wages are Different For Unskilled/Semiskilled/Skilled Category.
We Have Already Paid Ex-Gratia For Year 2014-15 So Can We Adjust Ex-Gratia Payment In Bonus As Now The Person Is Covered Under Bonus As Per The Amendment.
At Last When We Have To Pay Arrear ? Can We Pay Next Year ? Or We Have Pay Now.
Request The Senior IR Professionals Or Labour Law Advisors/Advocates To Pl. Guide In The Matter.
Dear Sir,
I have a little confusion, as our organization is a Private Limited company, situated at Faridabad, Haryana. Here i want to know is this amendment applicable for limited or private limited company or only Govt. Sectors.....?
Please help me out...
From India, Delhi
I have a little confusion, as our organization is a Private Limited company, situated at Faridabad, Haryana. Here i want to know is this amendment applicable for limited or private limited company or only Govt. Sectors.....?
Please help me out...
From India, Delhi
Sir, Previously gazette notification has been circulated but right now it was stayed by kerala high court order enclosed for the reference. Thanks & Regards, From, Sumit Kumar Saxena
From India, Ghaziabad
From India, Ghaziabad
Respected Seniors,
As per my understanding, under the new Bonus amendment, Wages Considered for Bonus Payment are INR Rs.7000 (Rupees Seven Thousand only) or Wages Earned as per Minimum Wages Rate, whichever is higher per month..
Sl.No. Name of workmen Day Rate as per Minimum Wages No of Days Worked Wages Earned Wages Considered #
1 A 278 25 6950 7000
2 B 337 25 8425 8425
But my query is that if a workman in any month works for 2/3 days; shall we have to consider his wages as Rs. 7000/- for the calculation of Bonus or have to consider his actual wages?
Sl.No. Name of workmen Day Rate as per Minimum Wages No of Days Worked Wages Earned Wages Considered #
1 A 278 5 1390 ***Rs.7000/- or Rs. 1390/-
Kindly Suggest.
Best Regards
Shiv.
From India, Aizawl
As per my understanding, under the new Bonus amendment, Wages Considered for Bonus Payment are INR Rs.7000 (Rupees Seven Thousand only) or Wages Earned as per Minimum Wages Rate, whichever is higher per month..
Sl.No. Name of workmen Day Rate as per Minimum Wages No of Days Worked Wages Earned Wages Considered #
1 A 278 25 6950 7000
2 B 337 25 8425 8425
But my query is that if a workman in any month works for 2/3 days; shall we have to consider his wages as Rs. 7000/- for the calculation of Bonus or have to consider his actual wages?
Sl.No. Name of workmen Day Rate as per Minimum Wages No of Days Worked Wages Earned Wages Considered #
1 A 278 5 1390 ***Rs.7000/- or Rs. 1390/-
Kindly Suggest.
Best Regards
Shiv.
From India, Aizawl
Community Support and Knowledge-base on business, career and organisational prospects and issues - Register and Log In to CiteHR and post your query, download formats and be part of a fostered community of professionals.
Amendment to Payment of Bonus Act 2015.jpg
Payment of Bonus Amendment Bill, 2015.pdf