MANAGEMENT & LABOUR LAW ADVISOR 

The Act combines four acts namely (i) Payment of Bonus Act (ii) Minimum Wages Act (iii) Payment of Wages Act (iv) Equal Remuneration Act. Now, the wages are divided into two categories (i) National Floor Rate Wages (ii) State Government Wages. The rate of wages will be revised in every 5 years. The act ensures that there is no discrimination between Men and Women. Also, timely payment of wages to all employees and workers.

Bonus is applicable to all employees working in an organisation for atleast 30 days in an accounting year and drawing wages not exceeding such amount per mensum as determined by notification of government. Bonus to be calculated at the rate of 8.33% or Rs. 100 of wages earned whichever is higher.