New Delhi: The Cabinet is likely to approve on Wednesday an amendment bill that seeks to raise the bonus limit to ₹ 7,500 and wage ceiling to ₹ 21,000 per month for getting the reward, among others.
The Cabinet will consider a bill to amend the Payment of Bonus Act, 1965, sources said. According to the proposal, the wage ceiling for getting bonus will be increased from existing ₹ 10,000 per month to ₹ 21,000 per month, thus making more workers eligible for the reward.
It also proposes to increase the maximum amount of bonus under the legislation to ₹ 7,500 from existing ₹ 3,500. “The Cabinet is likely to consider and approve the bill to amend the Payment of Bonus Act, 1965, in its meeting tomorrow," the source said. Once approved by the Cabinet, the amendment bill will be tabled in Parliament for making it into a law.
The winter session of Parliament is likely to start next month.
This amendment in the Act to increase wage ceiling and maximum amount of bonus was one of assurances given by the Centre after 10 central trade unions went on one-day strike on 2 September. The government had hinted at meeting workers’ aspirations on nine out of 12 demands submitted by the unions.