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NO RETROSPECTIVE APPLICABILITY FOR PAYMENT OF BONUS!
Published on Mon, Feb 01,2016 | 18:56, Updated at Tue, Feb 02 at 14:03Source : CNBC-TV18
The Payment of Bonus (Amendment) Act, 2015 was introduced on January 1st 2016 bringing reforms in the scope and calculation methodology and making Payment of Bonus Act, 1965 applicable to a larger section of employees. The Amendment Act was made retrospectively applicable from 1 April 2014. However, this retrospective applicability of the Amendment Act has now been stayed by the High Court of Kerala by way of an interim order. In this ERGO Update, Khaitan & Co analyses the interim order…
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