PC Agrawal (PCS) 24 December 2015

Payment of bonus (amendment) bill 2015 as passed

Friends,

Pl find attached Payment of Bonus (Amendment) Bill 2015 as passed by Lok Sabha on 22.12.2015. The Bill provides for following amendments:

Eligibility limit for payment of bonus increased from Rs.10,000 to Rs.21,000
Calculation ceiling increased from Rs.3,500 p.m. to Rs.7,000 p.m.

The amendments have 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

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4 Replies

Umesh Pawar (AM) 24 December 2015

Please clarify how we can fix % for bonus, If our allocable surplus is higher than 20% bonus amount.

Kumar Doab (FIN) 24 December 2015

Mr. P.C. Agarwal, Thanks for posting.

PC Agrawal (PCS) 15 June 2016

https://economictimes.indiatimes.com/news/economy/policy/bombay-high-court-stays-retrospective-roll-out-of-new-bonus-payment-act/articleshow/52749023.cms