FOURTH SCHEDULE (See sections 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 the year carried forward | Total set on or set off Carried Forward | | | 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* | Nil | 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 |
