The Payment of Bonus Amendment Act, 2015 Amendment Actreceived presidential assent on 31 December 2015.
The Amendment Act provides for major changes in the eligibility limit and calculation of bonus of employees under the Payment of Bonus Act, 1965 PBA.
These amendments were made pursuant to demands made by bonus limit amendment 2019 trade unions, from time to time, to revise the wage eligibility limit and calculation of ceiling in line with current economic trends.
The Amendment Act was introduced keeping in mind the interest of the workforce at large and in tandem with ongoing and proposed economic reforms.
Impact on employers The implementation of the Amendment Act retrospectively caused serious concerns for Indian employers, the major concern being that they were not given sufficient time to prepare and adapt to the amendments, which led to added financial stress on the employers at a time when Indian companies here under stress due to global financial pressure.
bonus dibayar 15 januari 2019 Pathak Several employers expressed concerns and said that it would have been prudent to provide them with a specified time frame to factor the increased costs into their accounts in order to comply with the retrospective bonus payment obligations.
Given that since the last major amendment, in 2007, the government had expressed no intention suggesting a steep amendment, several industries runescape money guide various salary structures with play free lucky 88 slot machine intent of bonus limit amendment 2019 employees, without making provision for costs associated with such retrospective amendments.
The salary structures that were adopted by companies were complex, with numerous allowances and incentives being built into the compensation structure.
The Amendment Act forced them to relook into the salary structures and how they were split, and to undertake a detailed evaluation, to ensure that the structures stayed compliant with the PBA.
Court challenges In the wake of the huge financial burden that the Amendment Act has caused, several writ petitions have been filed in various high courts challenging the retrospective applicability of the Amendment Act.
The ambit of the challenges has been restricted to the retrospective application of the Amendment Act.
Its implementation from the 2015-16 financial year has not been challenged.
In this regard, Allahabad in the case of Benara Udyog Ltd v Union of India, and the Labour Department of Madhya Pradesh, via a release, have endorsed the stay implemented by the above high courts, on the same gounds.
baby bonus calculator ontario is imperative to note that in view of the provisions contained in clause 2 of article 226 of the constitution of India, any order whether interim or final passed by a high court in a writ petition that questions the constitutional validity of a parliamentary act has effect throughout the territory of India.
Conclusion It is pertinent to note that when the PBA was amended in 2007, certain provisions were made applicable with retrospective effect.
Such an amendment was challenged by several employers, however, with no success.
Since the matter is currently sub judice, it remains to be seen how the judiciary will balance the pro-labour reforms aimed at the welfare of employees with the interests of employers and also whether an amendment with retrospective effect will be allowed this time too.
Manishi Pathak is a partner at the firm.
Tarini Gulia, an associate at the firm, contributed to this article.
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CA IPCC Payment of Bonus ACT 1965 May 2019 by CA Vaibhav Jain
SPEED LIMIT AMENDMENTS ORDER 2019 NOTICE OF PROPOSALS Notice is hereby given that The Council of the City of Peterborough proposed to make the above mentioned Order under Section 84(1) and (2) and Part IV of Schedule 9 of the Road Traffic Regulation Act 1984.
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