Payment Of Bonus (Amendment) Act, 2015

Introduction

In September, 2015, Shri Bandaru Dattatreya, the Minister of State for Labour and Employment took on record the 12 demands put forth by various trade unions and provided assurance that the Central Government is positively working towards resolving at least 9 of such demands. Among others, the trade unions had insisted that for the purposes of payment of bonus, the wage eligibility limit and calculation ceiling be revised to meet current economic trends. The trade unions proposed that the wage eligibility limit be increased from INR 10,000 to INR 21,000 and the calculation ceiling from INR 3,500 to INR 7,000 or the minimum wage notified by the appropriate Government for that category of employment, whichever is higher.   Taking into due consideration the demands provided by the trade unions in relation to amendments to be carried out to the Payment of Bonus Act, 1965 (Principal Act), the Payment of Bonus (Amendment) Bill, 2015 (Amendment Bill),