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Monday, October 26, 2015

CABINET APPROVES BONUS CALCULATION CEILING TO RS 7,000/-

                  The Cabinet on Wednesday 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.


Verification Of Medical Reimbursement Claims In CGHS and Guidelines for full reimbursement CLICK HERE FOR DETAILS

J&K (Relaxation of upper age limit for recruitment to Central Civil Services & Post) Amendment Rules, 2015

Data on the representation of Other Backward Classes in Central Government Services - Meeting taken by the Parliamentary Committee of Welfare of Other Backward Classes held on 14.10.2015. CLICK HERE FOR DETAILS

Strengthening of administration - Periodical Review under FR 56 (j)/ FR 56 (L) / Rule 48 of CCS (Pension) Rules, 1972 CLICK HERE FOR DETAILS

Review of payment of Group Insurance of All India Services on E-payment. CLICK HERE FOR DETAILS

NPS Trust will start recovering fee/charge @ 0.01% of the AUM on daily accrual basis CLICK HERE FOR DETAILS