The establishments covered under the act shall continue to pay the bonus even if the no of employees falls below 20 subsequently. The payment of bonus amendment act, 2015 had received assent of the president of india on 31 december 2015. Since our concern is related to the payment of bonus amendment act, 2015 limiting the scope only with sec 2, sec 12 of the payment of bonus act, 1965 and its effective date. Bangladesh gazette, extra, september 15, 2015 7315 registered no. Effective january 1, 2015, senior government officials salaries cannot exceed those. The payment of bonus amendment act 2015 notification. Stay of retrospective effect of the payment of bonus. The payment of bonus amendment act, 2015 amendment act was introduced on 1 january 2016 bringing reforms in the scope and calculation methodology and making payment of bonus act, 1965 principal act applicable to a larger section of employees. An act further to amend the payment of bonus act, 1965. The new code will amalgamate the payment of wages act, 1936, the minimum wages act, 1948, the payment of bonus act, 1965, and the equal remuneration act, 1976. The amendment act was made retrospectively applicable from 1 april 2014.
The government has proposed an amendment to the bonus act of 1965. The following amendment has been made in bonus act recently by the payment of bonus amendment act, 2015. Eligibility limit for payment of bonus increased from rs. As per amended act more workers eligible for bonus due to raising of monthly maximum pay limit. Payment of bonus amendment act, 2015 employment and hr. Jan 04, 2016 vide notification dated 1st january, 2016 issued by the government of india, the payment of bonus act, 1965, has been amended to increase the wage ceiling in section 2 of the act, from rs. R ecently, the government approved amendments to the bonus act, 1965 raising the limit for calculations of bonuses. The payment of bonus act, 1965 government of west bengal.
Payment of bonus amendment bill 2015 pdf download citehr. The payment of bonus amendment act, 2015 corporate law. Feb 18, 2016 the payment of bonus amendment act, 2015 had received assent of the president of india on 31 december 2015. Full explanation of the payment of bonus amendment act, 2015. As far as above mentioned sections concerned the act is amended 4 times. Pdf bangladesh labor rules 2015 english version ratul. This amendment in the act to increase wage ceiling and bonus calculation ceiling was one of assurances given by the centre after 10 central trade unions went on a daylong strike on september 2. This has been done with the intention of bringing more employees under the eligibility of the bonus act. Payment of bonus act applicability and calculations. Background the act provides a statutory right to employees of an establishment to share the profits of hisher employer. Payment of bonus amendment act 2015 notified pdf download. The payment of bonus amendment bill, 2015 to enhance the monthly bonus calculation ceiling to rs 7,000 per month from existing rs. Bonus is to be paid within 8 months of closing the book of accounts. On 31 december 2015 the president gave his assent to certain amendments to the payment of bonus act, 1965.
Mar 17, 2018 the payment of bonus act applies to every factory and establishment which employs not less than 20 persons on any day during the accounting year. Government was under pressure from various sources to promulgate the labour rules for a long time. Payment of bonusamendment act,2015 ministry of labour. The said amendment act provides for changes in the eligibility limit and calculation of bonus of the employees.
The bill seeks to amend the payment of bonus act, 1965. Govt doubles monthly bonus calculation ceiling to rs 7,000. This amendment has been made effective from 1st of april, 2014. Click the link below to view the file the payment of bonus amendment act 2015 notification. The payment of bonus amendment act, 2015 as passed was published on the egazette website on january 1, 2016 for notice upon the general public. Jun 30, 2016 the salient features of the payment of bonus amendment act 2015 is as follows. Dattatreya meioned that the companies have closed their account ooks for the year 2014 2015 on 31st march, 2015.
Honble kerala high court in the case of the united planters association of southern india vs. Kerala hc stays retrospective provisions of payment of bonus. Bombay high court stays the retrospective operation of the. The principal act provides for the mandatory annual payment of bonus to eligible employees of establishments which employ 20 or more.
Deduction of certain amounts from bonus payable under the act. Lok sabha passes the payment of bonus amendment bill, 2015. We would like to inform you that, following amendment has taken place vide notification dated 01 st january 2016 in respect of the payment of bonus amendment act, 2015, if. Kerala hc stays retrospective provisions of payment of. The payment of bonus amendment bill, 2015 a bill further to amend the payment of bonus act, 1965. Amendment in payment of bonus act 2015 and increase in. May 03, 2020 gazette notification payment of bonusamendment rules, 2019 ministry of labour and employment notification new delhi, the 29th january, 2019 g.
Whereas a draft of certain rules further to amend the payment of bonus rules, 1975, among other rules, were published in the gazette of india. The payment of bonus amendment act, 2015 employment and. However, the amendment has raised this ceiling to rs. The amendment act provides for major changes in the eligibility limit and increase in ceiling for calculation of bonus of employees under the payment of bonus act,1965. Payment of bonus act amendment gazette notification central.
In section 2 of the payment of bonus act, 1965 hereinafter referred to as the principal act, in clause, for the words ten thousand rupees, the words twentyone. The payment of bonus amendment act, 2015 lawyers law. Friends, pl find attached payment of bonus amendment bill 2015 introduced in lok sabha on 7. Union of india, stayed the operation and implementation of payment of bonus amendment act, 2015 to the extent the same gives retrospective from 01. More so, it has also made this act applicable from april 1st, 2014. This act may be called the payment of bonus amendment act, 2015. The payment of bonus amendment act, 2015 received presidential assent on 31 december 2015. Oct 21, 2015 the payment of bonus amendment bill, 2015 to enhance the monthly bonus calculation ceiling to rs 7,000 per month from existing rs. Bonus act has been amended ceiling increased to rs.
Whereas a draft of the payment of bonus amendment rules, 2016, further to amend the payment of bonus rules, 1975, which the central government proposes to make in exercise of the powers conferred by section 38 of the payment of bonus act, 1965 21 of 1965, was published, as required by subsection 1 of the said section 38, in. Payment of bonus act amendment gazette notification. Pl find attached payment of bonus amendment act 2015 as notified in official gazette. The salient features of the payment of bonus amendment act 2015 is as follows. May 10, 2016 the payment of bonus amendment act, 2015 as passed was published on the egazette website on january 1, 2016 for notice upon the general public. The present enactment, namely, the payment of bonus amendment act of 2015 act no. The eligibility of payment of bonus to employees has been increased from drawn salary of. Standards for remuneration act the netherlands government. Now reopening the account books and enhancing the amount of bonus.
The payment of bonus amendment bill, 2015 was introduced in lok sabha by the minister of state for labour and employment, mr. The central government will make wagerelated decisions for employments such as railways, mines, and oil fields, among others. The payment of bonus amendment bill, 2015 received the assent of the president on 31. This amendment is proposed to be effective from 1 st of april, 2015. Features of payment of bonus amendment act 2015 taxin. Jun 30, 2018 bangladesh labour law 2006 amendment 20 english. This also means that employers will have to pay employees that fall between the rs. Be it enacted by parliament in the sixtysixth year of the republic of india as. Be it enacted by parliament in the sixtysixth year of the republic of india as follows. Earlier this act only covered employees that were earning up to rs. Gazette notification payment of bonusamendment rules, 2019.
The payment of bonus act applies to every factory and establishment which employs not less than 20 persons on any day during the accounting year. Synopsis of the amendment the payment of bonus act 2015 hereinafter referred to as the act is made effective from 1st april 2014 retrospectively. After much delay, bangladesh government has introduced the bangladesh labour rules 2015 on september 15, 2015 through a gazette. Be it enacted by parliament in the fiftyeighth year of the republic of india as follows. The act provides for the annual payment of bonus to employees of certain establishments including factories and establishments employing 20 or more persons. The last amendment to both the eligibility limit and the calculation ceilings under the act was carried out in 2007 and made effective from april 1, 2006. The lok sabha has passed the payment of bonus amendment bill, 2015 to allow doubling of wage ceiling for calculating bonus of factory workers and establishments with 20 or more workers. The payment of bonus amendment bill, 2007 a bill further to amend the payment of bonus act, 1965. The parliament has passed the amendment to the payment of bonus act and the act has received the assent of the president on the 31st december 2015. The bill seeks to amend the payment of bonus act, 1965 and was introduced in lok sabha by the minister of state mos for labour and employment. Jan 06, 2016 the payment of bonus amendment bill, 2015 received the assent of the president on 31.
Dec 22, 2015 the last amendment to both the eligibility limit and the calculation ceilings under the act was carried out in 2007 and made effective from april 1, 2006. Amendment in payment of bonus act 2015 and increase in salary. Inserted by payment of bonus amendment rules, 1983, w. Sep 18, 2015 after much delay, bangladesh government has introduced the bangladesh labour rules 2015 on september 15, 2015 through a gazette. This implies a retrospective effect, which is an added liability for employers. Dattatreya meioned that the companies have closed their account ooks for the year 20142015 on 31st march,2015. The payment of bonus amendment act, 2015 has three significant changes which have affected employers budgets for payment of salaries for financial year 1516. The amendment has brought about significant changes to section 2 definitions and section 12 calculation of bonus with respect to certain employees.