The Cabinet 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. (this means, increased bonus will be paid from 2016 onwards)
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