Amendment status not verified — confirm the current text below against the official source.
Subs. by Acl 66 of 1980, sec. 9, 60r s4tjon 15 (w.!.e-( 2l-6-1980). Errlier section 15 was subslitufed by Acl 23 oI 1976, sec. ll (w.t.e.t. 25.9-1975) Soc 161 The Payment ol Bonus Act, tg6, Itl,Ll:,:",,,?:^"i:^,^.-:':,'ll1q ]r1r,, rl1er1 ,* Irn J..1iLlr5ti. :u,r,,,t\ o, L,a(. it]T.lhl. surptus in respecr or ,r,uj i*, oil, i,ii;, ;;; ;i '"..;;.,,;i'iL'l;,i"1't,r*t bonus Payable to the employees in i(: est,,rtr]!{}rrrrr"-, ,,*,t.".""..,,_.... bonus pa l"otlr{h rLlr*Li }e. l:b^s,bl_1Act 23 ot 1976, stc l2(a), for snb-scct;o (1) n^d Eltldnttiohs rh{irck) (!1,.r,c f. 25.9-1975\ Subs. by nct 66 of 1980, scc, 10, ft)r ,,Thrrd Sthrxtute,, ($,r'c.f 2r_8-19g0). 13 |:ij f1y^1?]: to the employees in ic est..rtri!,rhqr{,l,r ,,n,t"r-n*.iii.,n I ,;rnd Lhi:( 15 no amount or sufficient amount cJlrj{{J folrrirrrj ,;;1sJ sui {Jt1 rirriiiir !,!f\ Svi fi11 liUliitr :iufr ll.:]:::'l ll.:ll:llcrrutd Lrr: rrrjtisert liir rhr: ;lrrprr:s4 ,rr s..,,ir*.,i.'.,,, Lht nrjr.rrnrrrr.:, ll,l:l:: lll'::-irl:,,,rninrmrnr :rmr)rrnt o-r,,iJ"ii,:i-,",,i,' ;i;:i,,; l;i:,;';ll':li:i; ht'r',lrrrr,"l hrr'..,,1rd frrr l.reing scr oll in ,fr" l:,ru.i",.fi,ii'" ".,,,tr, iig ', ",,,: ,,,,i "., u,,.r {ll' fil' tnci::tsil.r {]f thr ltrurih at-crtunting !,(,.1r in {hr,rilitru{:f IJhr{tr;.i16, inrf., lrrl]r'{'l ill .:tr.lrt,(l In lltl' rup frr.,r incl::rsir.r of thr ttiirrih accrtuntirrg , ff as illustrated in the Fourth Schedule by srrLsection (l) or srrb_section (2) for thrs Act. ny amount has been carricd fonvard and in calculating bonus for thc succeedinc accorrntjnt year shaI first be raken ,"," t?l8l'"tTt'"0 forward from the earliesi - ,Linbdit' ,>f payinS bonts has with r€fclcnce to !€dio^s l0 and Il, /.', thc employcr is bound to D.\' 4?o of wages or fhc rhaximurn bonus of 20'2, or r4arcs in acmunrine vta iri,i, t)Ei* ir, Lrd. v. C t.7.,(19s1) I LIJ .l4l (Cal). lii,.5pc':iil trltovi$i{r shments,_1[(t) Where I I'N,rbliiltrnf nt a$ ntt!, the commencemenl of ii 4it. thr rrl.,lti !'{_'er titled to be paia bonus r |r ti s Aft ill ,hr-rl ub_sections. (l A), (lB) :rrxi i ir-,. provisions of this Act in rehtion to that year, but without applying the provisions of section 15. tr, "t' ," ot 'I'l may be, shall be made in the manner ulel taking into accounl the excess or ay be, ol the allocable surplus set on and sixth accounting yeais; \',/ ar- irrustrated in rhe 2[Fourth sc."T:[ft -:l'Ji"T #::#J::il:$; !:t::llftf lly. 1' r.h.q .o;:9 TuI Lc, or ii.," oil;;;4" surprus scr on or ser olt rn respect of ihe fifth, sixlh and scvcnth accounling ),ears. I z. l4 The Payment ot Eonus Acl, 1965 (Sec. 16 (lC) From the eighth .rccounting ycar following the accounting vear in which the employer sells the goods prodtrced or manufactured by hirn or renders services, as the case may be, from such establishment, the provisions of section 15 shall apply in relation to such establishment as they apply in relation to any other establishment. Exphnation I.-For the purpose of sub-section (1), an establishr:rent shall not be deemed to be newly s€t up merely by reason of a change in its location, management, name or ownership. Explanation ll.-l.or the purpose of sub-section (1A), an employer shall not be dccmed to havc derived profit in any accounting year unless- (a) he has made provision for that year's depreciation to which he is entitled under the Income-tax Act or, as the case mav be, under the agricultural income-tax law; and (b) the arrears of such depreciation and looses incurred by him in r€spect of the establishment for the Previous accounting years have been fully set off against his profits. Erplanntion ///.-For {lT r Furpurtc$ ol sub'sfcl i$rr:i { lA), { I tsi snd I I t]J, .sitld oi the goods produced or mnnufarturtd duririrg lhr" mur"e oI lho lritl r nning $l;in\ factory or of the prospeclinl! $ta$c oi ;rr'rv mini: fur arr ci{"ljtr}rl slr,lllf nu* be urketr into consideration and whoru anv q[()*tifn rrises u'ith rcgnrd in su{h pr{]du.ti{}n or manufacture, the decision of the appro;rr 1, (l A), (l B) and (1C)l shall, so far as may be, apply to new departments or undertaking,s or branches set up by existing establishmenls: Providcd that if an employcr in relation to an existing establishment c,:rrrristing o, difirr{rt1t liepnrh cnts {tr rrndertakings or branches (whether or not rn lh{: tirrr{ i drrarli s,:t rrf Jl dittcr$rt Periods has, belore the 29th May, 1955, [' r in* l...rlru-c 1i-1 t]re cmFlofcos r.lf all such departments or undcrtakings or [' r in* l...rlru-c 1i-1 t]re cmFlofcos r.lf all such l.r s i1.r,{r{,rliv.. .r[ tht iinh'r {!rt 14'lich such iri-rspo,rtivr .rl thr iinh'r {!rt 14'lich such departments or underlakings or bl;nrht,li 11"rrrr sut u F, (x1 tlrc ljir$i$ df thij consolidated Profits compu ted in resPcct i.rf ;rll rilr drlp;:rrtnlr"r'rl$ {r $nrtrcd;rkttrSs or branches, then, suclr gmployer shall br lirbl* 1rj tri;r-r, bonus i;r.iccordlnec with the provisions of this Act to the employees of all such departments or undertakings or branches (whelher set uP befbre'or.rfter that datcj on the basis ol thc coniolidated profits compured as aforesaid.