Centre approves amendment in Bonus Act
Tuesday, October 30, 2007 10:59 [IST]
New Delhi: The Centre has promulgated an ordinance approving changes in the Payment of Bonus Act, which would make workers drawing up to Rs 10,000 monthly salary eligible for annual bonus.
President Pratibha Devisingh Patil promulgated the Payment of Bonus (Amendment) Ordinance of 2007 on October 27, an official release said here today.
Hitherto, only those having a monthly salary of upto Rs 3,500 were eligible to claim bonus.
The Cabinet on October one had approved the amendment to Section 12 of the Act "to raise the eligibility limit for payment of bonus from the salary or wage of Rs 3,500 to Rs 10,000 per month".
The decision would benefit seven per cent of the total workforce in the country which is working in the organised sector.
1 comments:
Keep up the good work.
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