Bonus ceiling

New Delhi: The Union Cabinet on Wednesday approved doubling of the wage ceiling for calculating bonus to Rs.7,000 per month for factory workers and establishments with 20 or more workers.
The amendment bill, to be tabled in Parliament, will be made effective from April 1, 2015, the source said.
The bill proposes enhancing the eligibility limit for payment of bonus from the salary or wage of an employee from Rs.10,000 per month to Rs.21,000.
The bill also provides for empowering the centre to vary the basis of computing bonus. (IANS)