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Please give details of the bonus allocation and its equation
From India, Kochi
After applying (or deducting) direct taxes, depreciation, developmental rebate etc. on gross profit, the available surplus will be arrived.
For Companies other than Banking Institutions, allocable surplus is 67% of available surplus. For other establishments it will be 60%.
The allocable surplus will be distributed among eligible employees. Minimum bonus is 8.33% and maximum 20%. If the allocable surplus is not enough to pay 8.33%, it will be adjusted from the forthcoming 4 years, called Set Off. Also if allocable surplus is more than enough to pay 20%, balance amount will be carried forward to next four years; called Set On. Accordingly maximum of Set Off and Set On will be 8.33% and 20% respectively.
Abbas.P.S

From India, Bangalore
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