Amendment to bonus act 2012

 


Querist : Anonymous (Querist) 19 April 2013

Vide bill no. XXX of 2012 an amendment to section 2 of the payment of bonus act was proposed which has removed the ceiling of Rs. 10,000 for payment of Bonus. This amendment was to come into force on such date as the Central Govt may, by notification in the official gazzet appoint.

Is this notification issued? If yes then what is the date?


CA. Sunil Kumar (Expert) 20 April 2013

notification S.O. No.2260(E) Published in the Gazetteof India (extraordinary) part II, Section 3, Sub section (ii), dated 20th September, 2012.Ministry of Labour and Employment, Government of India, has revised the wage ceiling from Rs. 10,000 to Rs. 18,000 under the payment of wages act, with effect from 12th September 2012.


Querist : Anonymous (Querist) 22 April 2013

Thanks Sunil for the confirmation. Is there any change in the limit for paying Bonus which was upto Basic of Rs. 3,500? I think this limit hasn't changed.


Querist : Anonymous (Querist) 26 April 2013

Notification number 2260(E) is w.r.t. Payment of Wages Act and not payment of bonus act. Can U please clarify. The increase in the limit from Rs. 10k to Rs. 18K is w.r.t. sub-section 6 of section 1 of the Payment of Wages Act



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