Showing posts with label Bonus Calculation. Show all posts
Showing posts with label Bonus Calculation. Show all posts

Tuesday, October 20, 2015

Govt may effect Bonus Ceiling hike to Rs 21,000 from the present Rs.10000

Govt may effect Bonus Ceiling hike to Rs 21,000 (basic + DA) a month soon – More Central Government Employees to be be covered for payment of Bonus

Workforce of the country has another reason to cheer in this festive season as the Narendra Modi-led government is set to promulgate an ordinance to amend Payments of Bonus Act 1965 to make more employees eligible for annual bonus.

Ministry of Labour has hinted that the ceiling of Bonus is likely to be hiked from the current ceiling of Rs.10,000 (basic + DA) per month to Rs.21,000 (basic + DA) a month.

After the Bihar elections Union Cabinet may discuss about this ordinance to amend Payments of Bonus Act 1965 to make more employees eligible for annual bonus.

If the Ordinance is approved, those earning up to Rs.21,000 (basic + DA) a month will now be eligible bonus. This would be a steep jump from the current ceiling of Rs.10,000 (basic + DA) per month.

The government is already in the process of revising the minimum wages. The Election Commission has approved the Labour Ministry’s proposal and the Union Cabinet is likely to take up the issue on promulgating ordinance next week. From this year onwards, bonus will be linked to minimum wages.

Ministry in a recent meeting with trade unions said that the government agreed to amend the Bonus Act by enhancing the eligibility ceiling under section 2(13) of the Act from Rs.10,000 per month to Rs.21,000 month. It also agreed to calculate ceiling under section 12 from Rs.3,500 per month to Rs.7,000 per month, or the minimum wage notified by the government for the category of employment.

Trade unions View

All the trade Unions demanded the abolition on ceiling on payment of bonus due to rising inflation, the Government rejected it.

Source: Deccan Herald
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Monday, October 14, 2013

Declaration of Productivity Linked Bonus (P.L.B.) for the year 2012-2013.

Employees' Provident Fund Organisation
(Ministry of Labour & Employment, Govt. Of India)

No. WSU/12(1)12012-13/PLB/13048

Date: 09 Oct 2013

All Regional P.F. Commissioners
In-charge of the ROs/SROs
Regional P.F. Commissioner-I(ASD), Head Office

Sub: Declaration of Productivity Linked Bonus (P.L.B.) for the year 2012-2013.

Sir,
   The Central Government, under Section 5D(7) of the Employees' Provident Funds & Miscellaneous Provisions Act, 1952 has conveyed its approval to the extension of the existing Productivity Linked Bonus Scheme 1998-2004 (Revised) for the year 2012-2013 vide their letter No A-26022/1/1994-SS.1 dated 07th October 2013.

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Friday, September 27, 2013

Grant of Non-Productivity Linked Bonus (ad-hoc bonus) to Central Government Employees for the year 2012-13.

No.7/24/2007/E III (A)
Government of India
Ministry of Finance
Department of Expenditure
E III (A) Branch

New Delhi, the 27th September, 2013

OFFICE MEMORANDUM

Subject: - Grant of Non-Productivity Linked Bonus (ad-hoc bonus) to Central Government Employees for the year 2012-13.

   The undersigned is directed to convey the sanction of the President to the grant of Non-Productivity Linked Bonus (Ad-hoc Bonus) equivalent to 30 days emoluments for the accounting year 2012-13 to the Central Government employees in Groups C’ and D and all non-gazetted employees in Group ‘B’, who are not covered by any Productivity Linked Bonus Scheme. The calculation ceiling for payment of ad-hoc Bonus under these orders shall continue to be monthly emoluments of Rs. 3500/-, as hitherto. The payment of ad-hoc Bonus under these orders will also be admissible to the eligible employees of Central Para Military Forces and Armed Forces. The orders will be deemed to be extended to the employees of Union Territory Administration which follow the Central Government pattern of emoluments and are not covered by any other bonus or ex-gratia scheme.

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Thursday, September 23, 2010

Finance Ministry published the calculation method of Non-Productivity Linked Bonus for Central Government Employees

Finance Ministry has explained the calculation method of Non-PLB for central government employees with an illustration through this Office Memorandum.

To illustrate, taking the calculation ceiling of Rs. 3500 (where actual average emoluments exceed Rs. 3500), Non-PLB (Ad-hoc Bonus) for thirty days would work out to Rs.3500×30/30.4=Rs.3453.95 (rounded off to Rs.3454/-).

                          NON – PRODUCTIVITY LINKED BONUS (AD-HOC BONUS)

                                                             No.7/24/2007/E III (A)
                                                               Government of India
                                                                Ministry of Finance
                                                         Department of Expenditure
                                                                  E III (A) Branch

                                                                                               New Delhi, the 22nd September, 2010.

                                                     OFFICE MEMORANDUM

Subject: – Grant of Non-Productivity Linked Bonus (ad-hoc bonus) to Central Government Employees for the year 2009-10.

                                                                        *****

The undersigned is directed to convey the sanction of the President to the grant of Non-Productivity Linked Bonus (Ad-hoc Bonus) equivalent to 30 days emoluments for the accounting year 2009-10 to the Central Government employees in Group `C’ and ‘D’ and all non-gazetted employees in Group `B’, who are not covered by any Productivity Linked Bonus Scheme. The calculation ceiling of Rs. 3500/- will remain unchanged. The payment will also be admissible to the Central Police and Para-military Personnel and Personnel of Armed Forces. The orders will be deemed to be extended to the employees of Union Territory Administration which follow the Central Government pattern of emoluments and are not covered by any other bonus or ex-gratia scheme.

2. The benefit will be admissible subject to the following terms and conditions:

(i) Only those employees who were in service on 31.3.2010 and have rendered at least six months of continuous service during the year 2009-10 will be eligible for payment under these orders. Pro-rata payment will be admissible to the eligible employees for period of continuous service during the year from six months to a full year, the eligibility period being taken in terms of number of months of service (rounded off to the nearest number of months).

(ii) The quantum of Non-PLB (ad-hoc bonus) will be worked out on the basis of average emoluments/calculation ceiling whichever is lower. To calculate Non-PLB (Ad-hoc bonus) for one day, the average emoluments in a year will be divided by 30.4(average number of days in a month). This will thereafter be multiplied by the number of days of bonus granted. To illustrate, taking the calculation ceiling of Rs. 3500 (where actual average emoluments exceed Rs. 3500), Non-PLB (Ad-hoc Bonus) for thirty days would work out to Rs.3500×30/30.4=Rs.3453.95 (rounded off to Rs.3454/-).

(iii) The casual labour who have worked in offices following a 6 days week for at least 240 days for each year for 3 years or more(206 days in each year for 3 years or more in the case of offices observing 5 days week), will be eligible for this Non-PLB (Ad-hoc Bonus) Payment. The amount of Non-PLB (ad-hoc bonus) payable. will be (Rs.1200×30/30.4 i.e.Rs.1184.21 (rounded off to Rs.1184/-). In cases where the actual emoluments fall below Rs.1200/- p.m., the amount will be calculated on actual monthly emoluments.

(iv) All payments under these orders will be rounded off to the nearest rupee.

(v) The clarificatory orders issued vide this Ministry’s OM No.F.14(1O) – E.Coord/88 dated 4.10.1988, as amended from time to time, would hold good.

3. The expenditure on this account will be debitable to the respective Heads to which the pay and allowances of these employees are debited.

4. The expenditure incurred on account of Non-PLB (Ad-hoc Bonus) is to be met from within the sanctioned budget provision of concerned Ministries/Departments for the current year.

5. In so far as the persons serving in the Indian Audit and Accounts Department are concerned, these orders are issued in consultation with the Comptroller and Auditor General of India.

                                                                                                                            (RENU JAIN)
                                                                                                                                 Director


view the original www.finmin.nic.in
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