Labour, Jobs and Employment – Harmonization of labour laws, gender gap, unemployment, etc.

Parliament approves backdated bonus hike

  1. The Rajya Sabha approved amendments to the Payment of Bonus Act of 1965 in the winter session.
  2. It approved a retrospective bonanza for employees by changing the effective date for a hike in statutory bonus payments to April 1, 2014.
  3. It will make millions of employees eligible for bonus arrears for 2 years.
  4. The financial burden on the central govt. is expected to be around Rs. 6,115 crore.
  1. The Rajya Sabha approved amendments to the Payment of Bonus Act of 1965 in the winter session.
  2. It approved a retrospective bonanza for employees by changing the effective date for a hike in statutory bonus payments to April 1, 2014.
  3. It will make millions of employees eligible for bonus arrears for 2 years.
  4. The financial burden on the central govt. is expected to be around Rs. 6,115 crore.
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