Showing posts with label bonus hike. Show all posts
Showing posts with label bonus hike. Show all posts
Central Government doubles Bonus ceiling from Rs 3500 to 7000
Wednesday, October 21, 2015
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New Delhi: The Cabinet today decided to double 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 existing Rs 3,500 was approved by Union Cabinet here,” a source said after the Cabinet meeting.
The amendment bill will be made effective from April 1, 2015. Now the bill will be tabled in Parliament for approval.
The bill also seeks to enhance 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 Payment of Bonus Act 1965 is applicable to every factory and other establishment in which 20 or more persons are employed on any day during an accounting year.
The bill also provides for a new proviso in Section 12 which empowers the central government to vary the basis of computing bonus.
At present, under Section 12, where the salary or wage of an employee exceeds Rs 3,500 per month, the minimum or maximum bonus payable to employees are calculated as if his salary or wage were Rs 3,500 per month.
The last amendment to both the eligibility limit and the calculation ceilings under the said Act was carried out in 2007 and was made effective from April 1, 2006.
This amendment in the Act to increase wage ceiling and bonus calculation ceiling 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.
Enhancement of the ceiling of bonus is expected after Bihar elections
Saturday, October 10, 2015
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Enhancement of the ceiling of bonus (Rs.3500 to Rs.7000) is expected after Bihar elections
A.I.R.F
All India Railwaymen’s Federation
(Estd. 1924)
(Estd. 1924)
Dear Comrades,
Sub: Enhancement of the ceiling of bonus
Ministry of Labour(Government of India) has sent a proposal to the Cabinet for enhancement of ceiling of bonus from Rs.3500 to Rs.7000 with a cap of maximum payment of Rs.20,000.
Though the Election Commissioner has cleared it, but it has not been included in the Cabinet Agenda for the reasons best known to government, but we are hopeful that, it may be finalized after Bihar elections.
Source- AIRF
Confusion on ceiling of bonus for Central Government employees continues
Monday, October 5, 2015
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Confusion on ceiling of bonus for Central
Government employees continues
“Doubts and debates over
the ceiling of Productivity Linked Bonus to Central Government employees this
year continue to plague the minds.”
The word ‘Bonus’ continues to
powerfully attract the employee communities.
Given once every year,
bonus or honorarium could sometimes be even bigger than the monthly salaries.
But
Central Government employees are given only small amounts as bonuses each year.
With the highest prescribed ceiling limit fixed at Rs.3500, the bonus is
calculated based on the number of days announced.
Last
year, Railway employees were given bonuses of 78 days, employees of the postal
department received 60 days’ bonus. Civilian employees of the defence were
given a bonus of 40 days.
Employees of the public and private sectors
wrongly assume that 60 days bonus implies tow months’ salary.
In
simple terms, a 30 days bonus indicates a sum of Rs.3500 approximately. 60 days
bonus implies that the worker will be given Rs.7000. in case of 75 days’ bonus,
the worker makes Rs.8750. The amount is equal to one-fifth the salary of the
employee.
In
2007, the calculation ceiling of bonus was increased
from Rs.2500 to Rs.3500 pm , and the eligibility limit
for bonus was raised from Rs.3500 to Rs.10,000 pm. For a number of years,
all federation of Central Government employees have been demanding that the
calculation ceiling limit be raised from Rs.3500. You can see its impact
on all the ‘Charter of Demands‘ presented by the
federations to the government.
Recently,
the Government requested the trade unions to withdraw their September 2 strike
notice. During the negotiations that were held between the ministers and the
trade union representatives, it was reported that the Government had accepted
to raise the bonus ceiling limit from Rs.3500 to Rs.7000. Sources also
said that the eligibility of bonus was raised from Rs.10,000 to Rs.20,000.
But, no announcements in this regard were made by the Government.
Meanwhile,
Shri Vijesh Upadhyay, the General Secretary of BMS, created quite a flutter
with his letter. The letter mentioned the ceiling of bonus as Rs.10,000.
The Railway
workers federation, NFIR,
wrote a letter to the Railway Minister on September 8. The letter demanded that
the ministry take action based on the bonus announcement issued by the
authorized government information bureau, PIB, on September 1, 2015.
Unless
the Government clarifies its stand in the bonus issue, the social media are
going to overflow with false information, and some cooked up orders too. Since
the information is being eagerly awaited, Central Government employees tend to
get drawn to them and some are very likely to be misguided by these rumours.
source: 7thpaycommissionnews.in
As per reliable sources, Election Commission has
given it's nod for issuing ordinance on "Payment of Bonus Act"
Now the matter will go to cabinet and after it's approval, necessary ordinance will be notified soon.
Earlier Govt. decided to raise the ceiling of Rs 3500/- per month to Rs 10,000/- per month.
Now the matter will go to cabinet and after it's approval, necessary ordinance will be notified soon.
Earlier Govt. decided to raise the ceiling of Rs 3500/- per month to Rs 10,000/- per month.
source: paycommissionupdate.blogspot.in
