Friends,
Pl find attached Payment of Bonus (Amendment) Act 2015 as notified in Official Gazette. Following amendments have been made in the Act:
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.
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
From India, Malappuram
1442Pl find attached Payment of Bonus (Amendment) Act 2015 as notified in Official Gazette. Following amendments have been made in the Act:
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.
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
From India, Malappuram
Dear Sir/ Mam Thanks for sharing a useful information. Can you please guide that by what date we have to pay the increased Bonus for the FY 2014-15? Regards Pankaj
From India, New Delhi
From India, New Delhi
I read the same on other places on the internet also and as per CA Hitesh, limit for coverage of employee and the limit for calculation of bonus has been increased ( <link no longer exists - removed> ). But i am still confused like pankaj on when the amendment was implementable?
From India, New Delhi
From India, New Delhi
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Amendment to Payment of Bonus Act 2015.jpg
Payment of Bonus Amendment Bill, 2015.pdf