Headlines
Cabinet doubles monthly bonus calculation ceiling to Rs.7,000
New Delhi, Oct 21 The union cabinet on Wednesday approved doubling of the wage ceiling for calculating bonus to Rs.7,000 per month for factory workers and establishments with 20 or more workers.
"The Payment of Bonus (Amendment) Bill, 2015 to enhance the monthly bonus calculation ceiling to Rs.7,000 per month from the existing Rs.3,500, was approved by the union cabinet," an official source told reporters here after the cabinet meeting.
The amendment bill, to be tabled in Parliament, will be made effective from April 1, 2015, the source said.
The bill proposes enhancing the eligibility limit for payment of bonus from the salary or wage of an employee from Rs.10,000 per month to Rs.21,000.
The bill also provides for a new proviso empowering the central government to vary the basis of computing bonus.
Amending the Act to increase the wage and bonus calculation ceiling was one of government assurances given after the one-day strike last month by central trade unions.
1 minute ago
'Your first & only warning': Founder gets threat from rival firm
2 minutes ago
China to launch Chang'e-6 lunar probe to Moon's far side on Friday
7 minutes ago
Reducing air pollution key to fight new diabetes cases in India: Doctors
8 minutes ago
Covaxin has excellent safety record, says Bharat Biotech
9 minutes ago
TB claimed 108 lives in Mizoram in 2023
10 minutes ago
Study shows rotavirus vaccinations safe for babies in NICU
11 minutes ago
Long Covid symptoms can differ among children of various age groups: Study
12 minutes ago
Apple Watch saves Delhi woman's life by alerting abnormal heart rhythm
14 minutes ago
T20 WC: 'Virat should open; Rohit bats at No.3', believes Ajay Jadeja
15 minutes ago
Hardik stands 'head and shoulders above' anyone as fast-bowling all-rounder in T20 WC: Tom Moody
16 minutes ago
IPL 2024: Didn't want to waste the opportunity given by team management, says Nitish Reddy
17 minutes ago
IPL 2024: 'Don't think any one of us threw our wickets', says Riyan Parag after RR’s loss to SRH
23 minutes ago
IPL 2024: 'I was thinking Super Over', says Cummins after SRH’s one-run win over RR