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THE FORTH SCHEDULE

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1[THE FOURTH SCHEDULE]

(SEE SECTION 15 AND 16)

In this Schedule, the total amount of bonus equal to 8.33 per cent. of the annual salary or wage 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 wage 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 a available surplus allocable as bonus Amount payable as bonus Set on or set off of the year carried forward    

(1)

(2)

(3)

(4)

(5)

(6)
 

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 off 
69,167

Set off 
69,167

(8)

9.

10,000

1,04,167***

Set off 
94,167

Set off 
69,167 
94,1267

(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)

 

NOTES_

*        Maximum.

+       The balance of Rs. 1,10,000 set on from year-2 lapses.

**       Minimum.

1.         Subs. by Act No. 66 of 1980, s.21, for the Third Schedule (w.e.f. 21-8-1980).

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