Assertion: bonus | /r/HasProperty | calculated on allocable surplus
Facets:
Source sentences:
text: Payment of bonus calculated on the allocable surplus which is derived by the above calculation
text: Depreciation, investment allowance or development allowance [Section 6] - (minus) direct taxes payable [Section 7] - (minus) further sums as are specified in respect of the employer in the Third Schedule of this act consist of dividend payable (preference shares), reserves and % of paid up equity share capital [investment].Allocable surplus= 67% of the available surplus (other than banking companies) or 60% of the available surplus (banking companies and companies linked with abroad)Payment of bonus calculated on the allocable surplus which is derived by the above calculationExcess allocable surplus remain after paying the maximum bonus of 20% on the wage or salary of the employee, Should be carried forward to the next following year to be utilized for the purpose of payment of bonus in case of the shortage of the allocable surplus or losses occur.