Profit Bonus law & Practice

CONTENTS

INTRODUCTION

CHAPTER I: STATUTORY PROFIT BONUS
1. Legal Provisions
2. Payment of bonus conditional on profits
3. Additional bonus whether or not payable
4. Which establishments liable to pay bonus
5. Time of payment of bonus
6. Who is entitled to bonus
7. Calculation of bonus payable
(i) Total amount of bonus payable
(ii) Share of individual workmen
(iii) Meaning of wages
8. Precautions in aggregating wages
9. Case-law
10. Summary and salient features

CHAPTER II: BONUS UNDER SETTLEMENT, AWARD OR TERMS OF EMPLOYMENT
1. General Principles and considerations
2. Case-law
(i) Acceptance of bonus by workers
(ii) Account Books Availability
(iii) Additional bonus
(iv) Agreement as to bonus
(v) Availability of surplus and its calculation
(vi) Balance sheet
(vii) Bonus as a right and condition of service
(viii) Bonus for future and past years
(ix) Bonus vs. basic wages and dearness allowance
(x) Bonus vs. profits
(xi) Conditions, considerations, principles
(xii) Custom and usage vs. bonus
(xiii) Delay in and acceptance of demand for bonus
(xiv) Entitlement to bonus
(xv) Employees in non-productive departments
(xvi) Evidence concerning claim for bonus
(xvii) Finalisation of accounts
(xviii) Interpretation of a settlement concerning bonus
(xix) Permissible deductions and allowances
(a) Depreciation
(b) Income tax
(c) Rehabilitation
(d) Remuneration of directors & partners
(e) Rental income
(f) Return on capital
(g) Wealth Tax
(xx) Production bonus