The Union Cabinet on Wednesday approved increase in bonus ceiling to 7,000 rupees per month for industrial workers.
According to the proposal, the wage ceiling for getting bonus has also been increased from existing 10,000 rupees per month to 21,000 rupees per month.
The decision will make 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 rupees.
The Cabinet cleared amendment in the Payment of Bonus Act. The amendment bill will be tabled in the winter session of Parliament likely to start next month.
The 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.
You’ve reached your limit of {{free_limit}} free articles this month.
Subscribe now for unlimited access.
Already subscribed? Log in
Subscribe to read the full story →
Smart Quarterly
₹900
3 Months
₹300/Month
Smart Essential
₹2,700
1 Year
₹225/Month
Super Saver
₹3,900
2 Years
₹162/Month
Renews automatically, cancel anytime
Here’s what’s included in our digital subscription plans
Exclusive premium stories online
Over 30 premium stories daily, handpicked by our editors
Complimentary Access to The New York Times
News, Games, Cooking, Audio, Wirecutter & The Athletic
Business Standard Epaper
Digital replica of our daily newspaper — with options to read, save, and share
Curated Newsletters
Insights on markets, finance, politics, tech, and more delivered to your inbox
Market Analysis & Investment Insights
In-depth market analysis & insights with access to The Smart Investor
Archives
Repository of articles and publications dating back to 1997
Ad-free Reading
Uninterrupted reading experience with no advertisements
Seamless Access Across All Devices
Access Business Standard across devices — mobile, tablet, or PC, via web or app