The Key Changes In The Payment Of Bonus (Amendment),Act 2015
1. Effective April 1, 2014. Retrospective.
2. Eligible Salary (Basic) up to Rs.21000/- P.M.
3. The Bonus Calculation Ceiling Limit revised to Rs.7000/- Per Month Or The Minimum Wages For The Scheduled Employment, As Fixed By The Appropriate Government, Whichever Is Higher.
From India, Delhi
301. Effective April 1, 2014. Retrospective.
2. Eligible Salary (Basic) up to Rs.21000/- P.M.
3. The Bonus Calculation Ceiling Limit revised to Rs.7000/- Per Month Or The Minimum Wages For The Scheduled Employment, As Fixed By The Appropriate Government, Whichever Is Higher.
From India, Delhi
Dear Sir, According to the Bill it shall be deemed to have come in to force on 1st day of April 2015, But in Act, i found the effective date as 1st April 2014. Which is the effective date of The Payment of Bonus (Amendment) Act 2015? Please clarify me?
From India, Chennai
From India, Chennai
i The effective date is from 01APR14 i.e. the bonus for the year ending 31MAR15 needed to be calculated on revised ceiling. I am sure that the Bonus for 2014-15 have already been paid by all the employers within stipulated 8 months i.e. by Nov15 itself and hence this notification is creating a situation to revisit all the calculations and pay the difference. Other views are solicited.
From India, Delhi
From India, Delhi
Hi, I was worked in company till Aug'2014 in Mohali (Punjab) and my salary was less than 21,000/-. As per amendment i am eligible to get my bonus. but Employer saying "As per law there is no bonus due to you" could you please guide me if really i am not eligible to get bonus. kindly advise, thanks
From India, undefined
From India, undefined
Hi,
How are organisations managing this extra cost, when they just had increments. Moreover, is there a stay on retrospective payment of Bonus. Ref- http://www.business-standard.com/article/economy-policy/kerala-high-court-issues-interim-stay-on-retrospective-amendment-of-bonus-act-116020100785_1.html
From India, New Delhi
How are organisations managing this extra cost, when they just had increments. Moreover, is there a stay on retrospective payment of Bonus. Ref- http://www.business-standard.com/article/economy-policy/kerala-high-court-issues-interim-stay-on-retrospective-amendment-of-bonus-act-116020100785_1.html
From India, New Delhi
Dear Rajesh,
As per bonus act salary is Basic + DA.
So if the employees salary(Basic +DA) is below 21000/- or below he is eligible for bonus but if Salary is above 21000/- then he is not liable for bonus .Its depend of employer whether he has to pay or not.
Regards,
Vipin Singh
H.R. Officer & Recruiter.
Kou-Chan Knowledge Convergence Pvt. Ltd.
Mobile :9923570399
From India, Mumbai
As per bonus act salary is Basic + DA.
So if the employees salary(Basic +DA) is below 21000/- or below he is eligible for bonus but if Salary is above 21000/- then he is not liable for bonus .Its depend of employer whether he has to pay or not.
Regards,
Vipin Singh
H.R. Officer & Recruiter.
Kou-Chan Knowledge Convergence Pvt. Ltd.
Mobile :9923570399
From India, Mumbai
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Amendment to Payment of Bonus Act 2015.jpg
Payment of Bonus Amendment Bill, 2015.pdf