As Per Payment Of Bonus Act 1965 Allocable Surplus In Relation To Company Is
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Dear seniors,Kindly guide me in the calculation of allocable surplus of bonus. It's really urgent for me as there is an excise visit in my company and I am quite new in this company.My email id is neelamsharma598@gmail.com.
If the allocable surplus is more than enough to pay the maximum bonus, which is 20%, the balance amount will be carried forward to the next four years, subject to a ceiling of another 20%, known as Set on. If the allocable surplus is less than enough to pay the ...
Sir,Thank you so much, sir. This concept of a ceiling of 20% in the set on and 8.33% as set off was not mentioned. Thank you. Is there any provision for the over and above amount above the set on value of the allocable surplus? Or is it just the profit for the e...
No, the maximum set amount is 20%. If it is not utilized in the next four years due to sufficient operative profits for the respective years, that too will be lapsed to the employees and will be further added to the employer's profit.Abbas.P.S
Dear Sir/Madam,I am a student of MBA pursuing my career in HR. I am having trouble understanding the fourth schedule, where the concept of set on and set off is calculated and discussed. My general understanding is that set on is used to provide a bonus in the n...
Dear Members,Can you please help me understand how the allocable surplus is to be distributed among employees?Case 1: If the allocable surplus is more than the minimum bonus, let's say 3L as the allocable surplus and 1.5L as the minimum bonus.Case 2: If the allo...
Respected Umakanthan Sir,Thank you for the inputs you have given. Sorry for Case-2\. I should not have asked it. I have gone through Section 10 & 11, but still have doubts in practical application.As per your valuable inputs, I would like to request you to kindl...
Dear Amlan,I believe your questions above would not have arisen if you had taken the time to review sections 10, 11, and 15 of the Payment of Bonus Act, 1965 before presenting them. According to section 10, the employer is obligated to pay a minimum bonus of 8.3...
Dear Friends,Please advise on how to calculate the allocable surplus as per the Bonus Act, particularly regarding setting on and setting off.
I will request to read the Payment of Bonus (PB) Act in detail where Available Surplus, Allocable Surplus, Set On, Set Off, etc., are explained in different sections. Moreover, the schedule explains how the 4-year movement of Set On and Set Off takes place, also...