At last some changes to the Industrial Disputes Act, 1947.
Here is a mail received on the subject from a renowned expert [and my friend] Dr. R Krishnamurthy. I am reproducing it here with his consent.
An amendment Bill in the Payment of Bonus Act is likely to be passed. Major features of the proposed Payment of Bonus Amendment Bill 2010 are listed below:
1. Eligibility limit to be enhanced from Rs. 10,000/- to Rs. 12,000/- per month.
2. Calculation ceiling to be enhanced from Rs. 3,500/- to Rs. 5,000/- per month.
3. Minimum bonus @ 8% to be enhanced to 11%.
With the proposed amendment, minimum bonus payable would be Rs. 6600/- @ 11% while maximum 20% will continue to remain the same.
He has done his Ph.D. in Management from the Jamnalal Bajaj Institute of Management. He passed out from Bajaj Institute in 1976 with specialization in the area of Personnel and after doing his Ph.D. completed his LL.B. As an organizational consultant he has been associated with a number of organizations to assist in organizational change and Human Resources Development activities within the organization.