21/10/2015
The Cabinet is expected to deliberate and consider a
bill to amend the Payment of Bonus Act, 1965 today.
The Cabinet will consider a bill to amend the Payment of Bonus Act, 1965, sources said.
According to the proposal, the wage ceiling for getting bonus will be increased from existing Rs 10,000 per month to Rs 21,000 per month, thus making more workers eligible for the reward.
It also proposes to increase the maximum amount of bonus under the legislation to Rs 7,500 from existing Rs 3,500.
"The Cabinet is likely to consider and approve the bill to amend the Payment of Bonus Act, 1965, in its meeting Wednesday," the source said.
Once approved by the Cabinet, the amendment bill will be tabled in Parliament for making it into a law. The winter session of Parliament is likely to start next month.
This amendment in the Act to increase wage ceiling and maximum amount of bonus was one of assurances 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.