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Showing posts with label bonus ceiling 7000. Show all posts
Showing posts with label bonus ceiling 7000. Show all posts

Tuesday, 10 May 2016

08:01

Bonus Ceiling - Payment Of Bonus Act Amendment

Bonus Ceiling - Payment Of Bonus Act Amendment
The ceiling of calculating Bonus for factory workers and establishment with 20 or more workers under section 12 of the Payment of Bonus Act has been increased from Rs.3500/- per month to Rs.7000/- per month or the minimum wage for the scheduled employment, as fixed by the appropriate Government, whichever is higher with effect from 1stday of April 2014 through the Payment of Bonus (Amendment) Act, 2015, notified on 1st January, 2016.

The pension under the Employees Pension Scheme, 1995 has been fixed at minimum of Rs.1,000/-per month vide Government of India notification No.GSR 593 (E) dated 19.8.2014.  The number of pensioners benefited during the year 2014-15 was 17,65,307 after issue of notification for minimum pension of Rs. 1000/- per month on 19.08.2014. A statement showing the State-wise details of pensioners benefited from this move is at enlisted
Minimum Pension of Rs.1000/- per month

Sl. No.
State
No. of Pensioners Benefited with Notification No. GSR 593(E) Dated 19.08.2014
1
Andhra Pradesh
78354
2
Bihar
56831
3
Chhattisgarh
15328
4
Delhi
27022
5
Goa
4778
6
Gujarat
98067
7
Himachal Pradesh
6828
8
Haryana
28613
9
Jharkhand
34206
10
Kerala
168384
11
Karnataka
143763
12
Maharashtra
279422
13
Madhya Pradesh
68778
14
NE Region
10774
15
Odisha
39649
16
Punjab
33146
17
Rajasthan
37672
18
Tamil Nadu
247913
19
Telangana State
95829
20
Uttarakhand
11406
21
Uttar Pradesh
120882
22
West Bengal
157662

 TOTAL
17,65,307

This information given by Shri Bandaru Dattatreya, the Minister of State (IC) for Labour and Employment, in reply to a question in Lok Sabha today.

Source:PIBNEWS


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Friday, 23 October 2015

07:40

Government approves hike in bonus ceiling from Rs. 3500 to Rs 7000

Government approves hike in bonus ceiling from Rs. 3500 to Rs 7000

NEW DELHI: The Cabinet decided to double the wage ceiling for calculating bonus to Rs 7,000 per month for factory workers and establishments with 20 or more workers.

“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 was approved by Union Cabinet here,” a source said after the Cabinet meeting.

The amendment bill will be made effective from April 1, 2015. Now the bill will be tabled in Parliament for approval.

The bill also seeks to enhance the eligibility limit for payment of bonus from the salary or wage of an employee from Rs 10,000 per month to Rs 21,000.

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.

The bill also provides for a new proviso in Section 12 which empowers the central government to vary the basis of computing bonus.

At present, under Section 12, where the salary or wage of an employee exceeds Rs 3,500 per month, the minimum or maximum bonus payable to employees are calculated as if his salary or wage were Rs 3,500 per month.

The last amendment to both the eligibility limit and the calculation ceilings under the said Act was carried out in 2007 and was made effective from April 1, 2006.

This amendment in the Act to increase wage ceiling and bonus calculation ceiling was one of ssurances given by the Centre after 10 central trade unions went on one-day strike on September 2.

The government had hinted at meeting workers’ aspirations on nine out of 12 demands submitted by the unions.

Source : AIRF
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