Amendment of section 15 of Act IV of 1936

In the Payment of Wages Act, 1936, as in force in the whole of the State of Maharashtra (hereinafter referred to as “the principal Act”), for section 6, the following shall be substituted, namely:— “6. All wages shall be paid in current coin or currency notes, or in both: Provided that, where the amount of any bonus payable to an employed person exceeds an amount equal to one-fourth of his earnings (exclusive of dearness allowance) for the year to which the bonus relates, such excess shall be paid or invested in the manner prescribed. Explanation.—For the purposes of this section, the expression—

1. (1) “wages” shall include any bonus of the description given in sub-clause
2. (1) of clause
   • (vi) of section 2; and
3. (2) “bonus” means bonus payable to an employed person under the terms of employment or under an award or settlement or order of a court, and also includes any bonus of the description given in sub-clause
4. (1) of clause
   • (vi) of section 2.”