Centre to enhance bonus limit: Fernandes

Kollam, June 1 (UNI) Union Labour Minister Oscar Fernandes today said the government had agreed in principle to enhance the bonus limit from Rs 3,500 to Rs 7,500.

Addressing mediapersons at the Press Club here, he said the decision was taken after holding discussions with the labour unions.

The labour unions had demanded enhancement of bonus to Rs 10,000.

Mr Fernandes said the Bill for the Social Security for the unorganised sectors would be introduced during the next Parliament session.

Pointing out that the government intended to update the skilled labour employment opportunities to cope up with European standards, he said the Centre would introduce 500 centres of excellence in next five years0 100 each year.

The centres would be able to train about two lakh educated youngsters in the country, he added.

Mr Fernandes said the Centre would provide the funds while the states would provide the infrastructure facilities.

UNI