amendment in bonus act

dharminder singh (Querist) 24 June 2008 This query is : Resolved
whether there is any changes in bonus act.

i have heard about that all the organisation,whether they have completed 5 years or not.

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SANJAY DIXIT (Expert) 25 June 2008
Amendment to the Payment of Bonus Act, 1965
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The Cabinet in its meeting held on October 1, 2007 has approved the Amendments to the payment of Bonus Act, 1965, which are as follows:-

i) Amendment to Section 2(13): To raise the eligibility limit for payment of bonus from the salary or wage of Rs.3500/- to Rs.10,000 per month.

ii) Amendment to section 12: To raise the ceiling for calculation purpose from the salary or wage of Rs.2500/- to Rs.3500/- per month, and;

iii) Deletion of section 32(vi): To cover the employees employed through contractors on building operations .

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