• Investment World
• eWorld
• Brand Line
• Mentor
• Life
• Canvas
• Praxis
• Urban Pulse
• Brand Quest
• The New Manager

Stocks

• Quotes
• SE Diary
• Scoreboard
• Open-End Mutual Fund

Cross Currency

• Rates
  
  

Shipping

• Ports
  
  

Archives

• Yesterday
• Datewise
• Resources
• In Focus
• In Depth

Group Sites

• The Hindu
• The Hindu ePaper
• Business Line
• Business Line ePaper
• Sportstar
• Frontline
• The Hindu eBooks
• The Hindu Images

Our Bureau

New Delhi, Oct 1 Employees with wages or salaries of up to Rs 10,000 per month will now be eligible for bonus. The Union Cabinet has raised the eligibility limit for payment of bonus to Rs 10,000 from the existing Rs 3,500 per month.

Addressing a press conference, the Union Labour Minister, Mr Oscar Fernandes, also said that for calculation of bonus, the monthly salary would be assumed to be a maximum of Rs 3,500 against Rs 2,500 at present.

“With the construction sector booming, it was also decided to cover employees employed through contractors on building operations. Any person who has worked for a month would be eligible for a bonus on a proportionate basis.

The exact financial impact of the decision cannot be calculated,” said Mr Fernandes. The decision would benefit seven per cent of the total workforce in the country, which is working in the organised sector, the Minister added.

More Stories on : Policy | Human Resources

Article E-Mail :: Comment :: Syndication :: Printer Friendly Page

Stories in this Section
AP Cabinet okays Rs 2 a kg rice scheme

Copyright © 2007, The Hindu Business Line. Republication or redissemination of the contents of this screen are expressly prohibited without the written consent of The Hindu Business Line