Gazette Notifications
Released Date: 31st Dec, 2015
Central
Amendment to The Payment Of Bonus Act, 1965
The Payment of Bonus Act, 1965 was amended by, The Payment Of Bonus (Amendment) Act, No. 6 OF 2016 released on 31-Dec-2015 and effective from 1-Apr-2014. The major changes by this amendment are as follows : • The monthly pay eligibility limit of employee is enhanced to Rs 21,000 from Rs 10,000. Therefore any employee drawing a basic upto Rs. 21000 per month is eligible for Bonus. • Also the bonus calculation ceiling is enhanced to Rs 7,000 (or the minimum wages notified whichever is higher) from Rs 3,500.
Effective Date: 1st Apr, 2014
SHRM SSO
