RSM India

Newsflash - Significant Changes effected under the Payment of Bonus (Amendment) Act, 2015

The Government of India has notified the Payment of Bonus (Amendment) Act,2015 on 31 December,2015, which provides for the annual payment of bonus to employees of factories with 10 or more persons and  establishments employing 20 or more persons and such other establishments that may be notified by the appropriate government. The amendments shall be deemed to have come into force on the 1st day of April, 2014. Hence, employees, who have already been paid bonus for the financial year 2014-15, would now be eligible for arrears. Those with salaries between Rs. 10,000 and Rs. 21,000 per month will also be eligible for bonus starting from the financial year 2014-15.

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