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. Be it enacted by parliament in the sixtysixth year of the republic of india as. Lok sabha passes the payment of bonus amendment bill, 2015. The payment of bonus amendment bill, 2015 received the assent of the president on 31. The payment of bonus act, 1965 bonus act has been recently amended to bring about certain key changes the amendments.
The ambit of the challenge is restricted to the provisions of section 12. Labour amendment act, 2015 zimbabwe legal information institute. Submissions were made by the petitioners that the karnataka high court, allahabad high court and other high courts had granted stay to the retrospective application of the said act. To check that your copy of the manual is up to date, consult the contents checklist on the back of this filing page. Please refer here with enclosed gazette notification for the same. Retrospective effect from fy 201415 of payment of bonus mondaq. The amendment has brought about significant changes to section 2 definitions and section 12 calculation of bonus with respect to certain employees. Vide companies meetings of board and its powers amendment rules, 2015, dated 18th march 2015, the following amendments has been made. Payment of bonusamendment act,2015 ministry of labour. The payment of bonus act, 1965 provides for the payment of bonus to persons employed in certain establishments, employing 20 or more persons, on the basis of profits or on the basis of production or productivity and matters connected there with. Payment of bonus act amendment gazette notification. Payment of bonus amendment act2015 gazzette notification.
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 wordstwentyone thousand rupeesshall be. Rules regulations notifications orders circulars statutory ordinance statutes. Stay of retrospective effect of the payment of bonus. 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. Ceiling from 10,000 rs to 21,000 released in gazette bonus ceiling limit amended basic wages from 10,000 rs to 21,000 rs. The payment of bonus act, 1965 government of west bengal. 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 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 key provisions of bill. The payment of bonus amendment act 2015 notification. Amendment on payment of bonus act pdf download citehr.
Appointment of bonus collection authority under payment of bonus. Amendment bill 2017 amends payment of gratuity act of 1972. The payment of bonus amendment act, 1969 8 of 1969. Answer 3 with reference to sec 2 of the payment of bonus act1965 which defines employee as means any person other than an apprentice employed on salary or wage not exceeding r. Friends, pl find attached payment of bonus amendment bill 2015 introduced in lok sabha on 7. Amendments are made consequential to procla mation, on june 24, 2015, of part 5 of the chartered professional accountants act, sbc 2015, c. 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 amendment act the bill to amend the principal act was tabled in the lok sabha upper house on 30 november 2015. The amendment act, which was notified on 1 january 2016, with retrospective effect from 1 april 2014, inter alia. Agrawal for posting the copy of the passed bill for the awareness of one and all.
Bonus act law 1965 with amendment for nov 2017 youtube. Bonus statutory bonus bonus act 1965 payment of bonus act 1965 bonus calculation in excel duration. The key changes in the payment of bonus amendment, act 2015 1. Some more writ petitions are being filed in other high courts also. This act may be called the payment of bonus amendment act, 2015. This amendment has been made effective from 1st of april, 2014. The amendment was effective retrospectively from 1 april 2014. Law in india bare actpdf essential commodity act 1955 the drugs and cosmetics act 1940 the right of children to free and compulsory education act 2009 the citizenship act 1955 the registration act 1908 the representation of the people act 1951 the customs act 1962 the transfer of property. Mca vide various notifications has amended rules under the companies act 20. The said amendment act provides for changes in the eligibility limit and calculation of bonus of the employees. As far as above mentioned sections concerned the act is amended 4 times.
Union of india, stayed the operation and implementation of payment of bonus amendment act, 2015 to the extent the same gives retrospective from 01. The payment of bonus amendment act, 2015 lawyers law. The payment of bonus amendment act, 2015 has three significant changes which have affected employers budgets for payment of salaries for financial year 1516. Yesterday, the bombay high courts vm kanade and ms sonak jj passed an ad interim order staying the retrospective operation of the payment of bonus amendment act, 2015 amendment act the court was hearing a writ petition wpl15482016 filed by tech mahindra. Payment of bonus amendment bill 2015 as passed pdf.
As per amended act more workers eligible for bonus due to raising of monthly maximum pay limit. The payment of bonus amendment act, 2015 was notified on 1 january 2016 bringing amendment to the payment of bonus act, 1965. Bombay high court stays the retrospective operation of the. Be it enacted by parliament in the sixtysixth year of the republic of india as follows.
Amendment in the companies meetings of board and its powers rules, 2014. Kerala hc stays retrospective provisions of payment of. If you have further questions about updating your manual, contact meaghan lien in the. Notifications labour department, government of rajasthan. The present enactment, namely, the payment of bonus amendment act of 2015 act no. As such it has come to my knowledge that the bonus for the financial year 201415 is to be enhanced only after courts order. Background the act provides a statutory right to employees of an establishment to share the profits of hisher employer. Payment of bonus act amendment gazette notification on.
The bonus act applies to every factory and every establishment that employs 20 or more persons, and unlike other performance linked incentives offered by companies, the bonus payable under this law is not linked to the performance of the employee. The wage threshold for determining eligibility of employees has been revised from inr 10,000 to inr 21,000 per month, covering a larger pool of employees. Stay order on the retrospective amendment in bonus act. The payment of bonus amendment act, 2015 had received assent of the president of india on 31 december 2015. The payment of bonus amendment act, 2015 corporate law. However, the subject matter is under active consideration by the central govt. The payment of bonus act for caipcc linkedin slideshare. 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. Information on payment of bonus, 1965 ministry of labour. The payment of bonus amendment act, 2015 on 31 december 2015 the president gave his assent to certain amendments to the payment of bonus act, 1965 and the notification was published in official gazette on 01. The payment of bonus amendment act 2015 notification file reference number gazette notification file date 31. An act further to amend the payment of bonus act, 1965. A writ petition was filed by mahindra tech before the bombay high court challenging the retrospective applicability of the payment of bonus amendment act, 2015.
The amendments have increased the wage threshold for determining applicability of the act from inr 10,000 to inr 21,000 per month. Amendment in payment of bonus act 2015 and increase in. This amendment package updates the members manual to june 12, 2015. Cbdt extends advance tax payment deadline for northeastern states to december 31 15 dec, 2019, 10. The amendment has been brought into effect from 1 april 2014. The payment of bonus amendment bill, 2015 a bill further to amend the payment of bonus act, 1965. In section 2 of the payment of bonus act, 1965 hereinafter referred to as the principal act, in. Appointment of assessing officer under bocw cess act, 2015, 22012015. Pl find attached payment of bonus amendment act 2015 as notified in official gazette. Whether the increased ceiling of bonus has been opposed. 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. 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. Eligibility limit for payment of bonus increased from rs.
Eligibility wage ceiling increased under the provisions of the. Amendment rajasthan shops and commercial establishment 1959, 26112019. The act provides for the annual payment of bonus to employees of certain establishments including factories and establishments employing 20 or more persons. Key amendments brought about by the payment of bonus amendment act, 2015. On 27 january 2016, the kerala high court in the case of the united planters association of southern india and s. Download judgmentorder honble kerala high court in the case of the united planters association of southern india vs. The eligibility of payment of bonus to employees has been increased from drawn salary of. Stay orderhigh court of keralapayment of bonus amendment act 2015 the order of the kerala high court will not be applicable on pan india level. 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.
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