Lok Sabha has passed Payment of Bonus (Amendment) Bill 2015 yesterday increasing the eligibility limit for payment of Bonus from Rs. 10,000 to Rs. 20,000. The bonus calculation limit is also increased from the present Rs. 3,500 to Rs. 7,000. These will be implemented with retrospective effect from April 2014.
The Central Trade Unions have been demanding to increase the ceiling on both eligibility and calculation limits for the past few years.