Parliament passes Bonus Bill 2015
Q. Parliament has passed which Bill allowing doubling of wage ceiling for calculating bonus?- Published on 24 Dec 15a. Bonus Payments (Amendment) Bill 2015
b. Payment of Bonus (Amendment) Bill 2015
c. Payment of Bonuses (Amendment) Bill 2015
d. None of the above
ANSWER: Payment of Bonus (Amendment) Bill 2015
Parliament has passed the Payment of Bonus (Amendment) Bill 2015 moved by Labour Minister Bandaru Dattatreya. The Bill allowing doubling of the wage ceiling for calculating bonus to reach INR 7000 per month with factory workers for establishment with 20, more workers. Benefits are going to be applicable from April 2014. Both LS and RS have now approved this Bill. Official amendments provide that benefits of the Act will come into force w.e.f April 2014 instead of April 2015. The Bill also enhanced eligibility limit for payment of bonus from INR 10000 per month to INR 21,000 per month.
