Section 15 Under "the Payment Of Bonus Act 1965"

Hi All,
Would any please enlighten me about the "section 15"(set-on & set -off of allocable surplus) under The Payment Of Bonus Act 1965.
Thanks & Regards
pooja

Hello Pooja
Set-on means rhe Allocable surplus is higher than the payment of Bonus while Allocable surplus is low than the actual Bonus it is Set-Off
Regds,
Nehal

Dear Poo
There is bonus act to payee bonus to the Employee on yearly basis.
Our accounting year from April to March. Balance also made.
In Bonus act there is Bonus forms A, B, C, D.
Forget Form C - its for employee Signature only.
Form A B C are for SET ON, SET OFF.
Actual bonus paid to employee is 2 00 000. Rs.
Your Balance sheet Total Profit/loss is 40 00 000 Rs. take 60% of that amount. its 2 40 000. actually your profit is 2 40 000. you payee bonus from 2 40 000.
But you payee 2 00 000. and your 40 000 rs. is SET ON. which will be Entitle in Next year.
Bhavesh Surani
BCA, MSW, LLB, DIRPM.
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