Payment of Bonus (Amendment) Bill, 2015
Q. Which of the following statements is/are correct about the Payment of Bonus (Amendment) Bill, 2015?
1. It has doubled the wage ceiling for calculating bonus to Rs 7,000 per month for factory workers and establishments with 20 or more workers.
2. It also increased eligibility limit for payment of bonus from the salary or wage of an employee from Rs 10,000 per month to Rs 21,000.- Published on 29 Dec 15a. Only 1
b. Only 2
c. Both
d. None
ANSWER: Both
- The Payment of Bonus (Amendment) Bill, 2015 to enhance the monthly bonus calculation ceiling to Rs 7,000 per month from existing Rs. 3,500
- The Payment of Bonus Act 1965 is applicable to every factory and other establishment in which 20 or more persons are employed on any day during an accounting year.
