Modi Government to Raise Bonus Limits from Rs.3500 to Rs.4500
The Government has decided to raise the upper limit for the annual bonus that is being given to Central Government employees all over the country.
Payment of Bonus (Amendment) ordinance 2007 according to which section 12 of the payment of Bonus Act 1965 had been amended raising the ceiling for calculation purpose from salary of 2500/- P.M. to Rs.3500/-P.M. w.e.f. 01.04.2006. And also amended the Payment of Bonus Act, 1965 to raise the eligibility limit for payment of bonus from the salary or wage of Rs. 3500/- per month to Rs. 10000/- per month.
Central Government employees are regularly given Productivity Linked Bonus(PLB). Each department announces its bonus days in the month of September. But, since there was an upper limit, only small amounts were given as bonuses. CG Employees Federations all over the country were demanding that the limits should be raised.
News have surfaced that decisions in this regard were made during a recent meeting held with group of ministers. According to unconfirmed sources, the upper limit has been raised by Rs.1000 from Rs.3500 to Rs.4500.
Source: www.cgstaffportal.in
It should be 15 days salary. Nothing is going to work in this over expensive Indian market whether it is 3500 or 45oo.. Minimum bonus should be 15 days salary of the employee.