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Discussion > LAW > Labour & Industrial >

Amendments to the payment of Bonus Act, 1965

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C.A.

[ Scorecard : 175]
Posted On 04 October 2007 at 12:54 Report Abuse

Hi,

 

The Cabinet has approved the Amendments to the payment of Bonus Act, 1965, which are as follows:-

  • Eligibility limit for payment of bonus to the employee earning salary or wage has been enhanced from Rs. 3,500/- per month to Rs.10,000/- per month.
  • Ceiling for purpose of calculation of bonus to the employee earning salary or wage has been enhanced from Rs. 2,500/- per month to Rs.3,500/- per month.
  • Employees employed through contractor on building operations will now be covered under The Payment of Bonus Act, 1965

         Please let me know the what is the effective date of the above amendment.

Thanks in advance

 


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Ravikumar.G
Consultant

[ Scorecard : 18380]
Posted On 04 October 2007 at 13:47

The date which is not yet decided. It will be decided only coming on November2007 Parliament session.




siddharth
C.A.

[ Scorecard : 175]
Posted On 04 October 2007 at 14:21

Hi Ravi, Is our opinion is based on Section 38(3) of the Payment of Bonus Act,1965 which provided that "Every rule made under this section shall be laid as soon as may be after it is made, before each House of Parliament while it is in session for a total period of thirty days, which may be comprised in one session [or in two or more successive sessions], and if before the expiry of the session [immediately following the session or the successive sessions aforesaid], both Houses agree in making any modification in the rule or both Houses agree that the rule should not be made, the rule shall thereafter have effect only in such modified form or be of no effect, as the case may be; so, however, that any such modification or annulment shall be without prejudice to the validity of anything previously done under that rule". Pls confirm. So the amendment approved by cabinet will not have effect unless approved by the Parliament. Thanks in advance



Ravikumar.G
Consultant

[ Scorecard : 18380]
Posted On 04 October 2007 at 16:24

Obviously there is no doubt. They will give effect retrospectively.



siddharth
C.A.

[ Scorecard : 175]
Posted On 04 October 2007 at 17:37

Hi Ravi, But in the press release they have not mentioned whether it will be with retrospective or prospective effect



(Guest)
Posted On 06 October 2007 at 10:08

If an employee resigned and relieved on 20.9.07, kindly confirm whether we have to pay minimum bonus till 20.9.07 along with settlement. regards, S.Muthuganesan



(Guest)
Posted On 24 October 2007 at 17:57

pl sent to noti.of bonus



(Guest)
Posted On 25 October 2007 at 09:22

Please let me know the effective date of amendement in Payment of Bonus Act,on 1st October 2007.



(Guest)
Posted On 25 October 2007 at 18:41

Pl give me date of emplimentetion of Bonus limit



(Guest)
Posted On 25 October 2007 at 18:44

please send us Bonus rule & regulation


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