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Eduncle posted an MCQ

October 19, 2019 • 16:56 pm

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UGC NET
Human Resource Management

Allocable surplus for a banking company under the provisions of the payment of Bonus Act, 1965 means :

Choose Your Answer:

A Sixty seven percent of the available surplus in an accounting year

B Sixty percent of the available surplus in an accounting year

C Sixty six percent of the available surplus in an accounting year

D Sixty six percent of the available surplus in the financial year

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Eduncle Best Answer

Allocable surplus means :

(a) in relation to an employer, being a company(other than a banking company) which has not made the arrangements prescribed under the Income-tax Act for the declaration and payment within India of the dividends payable out of its profits in accordance with the provisions of section 194 of that Act, sixty-seven per cent of the available surplus in an accounting; year;

(b) in any other case, sixty percent of such available surplus;
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