Amendments to the Payment of Bonus Act 1965 approved by Lok Sabha
Dear all,
The Bill of Amendment of the Payment of Bonus Act 1965 was approved by the Cabinet, and was tabled in Lok Sabha. The Lok Sabha approved the amendments to the Payment of Bonus Act 1965 on 22/12/2015.
The said amendments will be effective from 1st April 2014. In the said Amendment Bill, new proviso in Section 12 has been provided, under which the Central Government is empowered to vary the basis of computing bonus.
The copy of the said approved Bill and the news paper cutting of Economic Times, dated 23/12/2015 are attached herewith.
All the industries colleagues are hereby requested to go through the Bill and news paper cutting for detail study in the matter and act accordingly.
Thanking you,
With regards,
For Silvassa Industries & Manufacturers Association,
Narendra Trivedi,
Secretary
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