When in an accounting year, the allocable surplus exceeds the amount of maximum bonus payable to the employees then, the excess shall be, subject to a limit of __________ of the total salary or wages of the employees emp
CS Executive · Industrial, Labour & General Laws · PYQS · June 2017
When in an accounting year, the allocable surplus exceeds the amount of maximum bonus payable to the employees then, the excess shall be, subject to a limit of __________ of the total salary or wages of the employees employed in the establishment in that accounting year, be carried forward for being set on in the succeeding accounting year and so on up to and inclusive of the fourth accounting year to be utilized for the purpose of payment of bonus in the manner illustrated in the Fourth Schedule of the Payment of Bonus Act, 1965.
Answer & Explanation:
Correct Answer: Option (C)
Official answer key: (C).
Topics: Labour Laws
Related Questions in this Topic
- Match List I with List II which is related to the statute and the year in which they were enacted and select the correct...
- The objectives of labour audit include :
- As per Payment of Bonus Act, 1965, An employee is entitled to be paid by his employer a bonus in an accounting year subj...
- The State Governments carry out the administration of the Factories Act, inter-alia, through :
- "Superannuation", in relation to an employee, who is the member of the Pension Scheme under the Employees' Provident Fun...