The Payment of Bonus (Amendment) Act, 2015 envisages enhancement of eligibility limit under section 2(13) from Rs.10,000/- per month of Rs. 21,000/- per month and Calculation Ceiling under section 12 from Rs.3500 to Rs.7,000
All India Railwaymen’ Federation (AIRF) has requested Railway Board to pay the arrears in Bonus Payment for the financial year 2014-15. Lok Sabha has already approved the amendmend to Bonus Bill increasing the ceiling limit of wages from Rs. 3500/- to Rs. 7000/- with retrospective from 01.04.2014
Shri Bandaru Dattatreya, Hon’ble Labour Minister, presented the Bonus bill to the Lok Sabha and the same was duly approved. Bonus bill enables wage ceiling for calculating bonus at Rs.7,000 per month with the benefits being applicable retrospectively from April 2014.
Many people don’t realise about the Ceiling limit, fixed at Rs.3500. With the highest prescribed ceiling limit fixed at Rs.3500, the bonus is calculated based on the number of days announced.