Payment of Bonus Act, 1965
THE FOURTH SCHEDULE
[Sections 15 and 16]
In this Schedule, the total amount of bonus equal to 8.33 per
cent of the annual salary or wages payable to all the employees is assumed to
be Rs . 1,04,167. Accordingly, the maximum bonus to
which all the employees are entitled to be paid (twenty per cent of the annual
salary or wages of all the employees) would be Rs .
2,50,000.
| Year |
Amount equal to sixty per cent or
sixty-seven per cent, as the case may be, of available surplus allocable as
bonus |
Amount payable as bonus |
Set on or Set off of the year carried
forward |
Total set on or set off carried forward |
|
|
Rs. |
Rs. |
Rs. |
Rs. |
Of (year) |
| 1. |
1,04,167 |
1,04,167# |
Nil |
Nil |
|
| 2. |
6,35,000 |
2,50,000* |
Set on 2,50,000* |
Set on 2,50,000* |
(2) |
| 3. |
2,20,000 |
2,50,000* (inclusive of 30,000 from year-2) |
Nil |
Set on 2,20,000 |
(2) |
| 4. |
3,75,000 |
2,50,000* |
Set on 1,25,000 |
Set on 2,20,000 1,25,000 |
(2) (4) |
| 5. |
1,40,000 |
2,50,000* (inclusive of 1,10,000 from
year-2) |
Nil |
Set on 1,10,000 1,25,000 |
(2) (4) |
| 6. |
3,10,000 |
2,50,000* |
Set on 60,000 |
Set on Nil ## 1,25,000 60,000 |
(2) (4) (6) |
| 7. |
1,00,000 |
2,50,000* (inclusive of 1,25,000 from year-4
and 25,000 from year-6) |
Nil |
Set on 35,000 |
(6) |
| 8. |
Nil(due to loss) |
1,04,167# (inclusive of 35,000
from year-6) |
Set on 69,167 |
Set off 69,167 |
(8) |
| 9. |
10,000 |
1,04,167# |
Set off 94,167 |
Set off 69,167 94,167 |
(8) (9) |
| 10. |
2,15,000 |
1,04,167# (after setting off
69,167 from year-8 and 41,666 from year-9) |
Nil |
Set off 52,501 |
(9) |
* Maximum amount admissible.
# Minimum amount admissible.
## The Balance of Rs . 1,10,000 set on
from year-2 lapses;
|
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