Professional Documents
Culture Documents
by :
DR. T.K. JAIN
AFTERSCHO☺OL
centre for social entrepreneurship
sivakamu veterinary hospital road
bikaner 334001 rajasthan, india
www.afterschoool.tk
mobile : 91+9414430763
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What is available surplus?
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WHO CAN GET BONUS?
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Exempted organisations
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How to calculate allocable
surplus?
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What is set off?
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What is set on?
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example...
Gross profit 200, permissible exp. 40,
depreciation 20, income tax : 20%, payments
to workers 10.
solution : (200 – 40 – 20) = 140
less tax : = 140-28= 112
60% is allocable surplus : 67
bonus to be given : 20% of 10 = 2.
amount left : 67-2 = 65, the firm can set on for
4 years: Rs. 8. answer
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Other provisions...
Sec. 17 : employer can deduct custom bonus
(like Diwali bonus) from the bonus payable
under the act
Sec. 18 : deductions for penalty on workers are
permitted from bonus
Sec. 19: time limit to pay bonus : 8 months.
Sec 21 : employee can claim bonus – in 1 year
from due date.
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THANKS....