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(1) Where any dispute of the nature specified in section 22 between an employer, being a banking company, and its employees has been referred to the said authority under that section and during the course of proceedings the accounts of the banking company duly audited are produced before it, the said authority shall not permit any trade union or employees to question the correctness of such accounts, but the trade union or the employees may be permitted to obtain from the banking company such information as is necessary for verifying the amount of bonus due under this Act. (2) Nothing contained in sub-section (1) shall enable the trade union or the employees to obtain any information which the banking company is not compelled to furnish under the provisions of section 34A of the Banking Regulation Act, 1949 (10 of 1949).] FORM C [See rule 4(c)] BONUS PAID TO EMLOYEES FOR THE ACCOUNTING YEAR ENDING ON THE .. Name of the establishment No. of Working days in the year

(2) In particular, and without prejudice to the generality of the foregoing power, such rules may provide for-(a) the authority for granting permission under the proviso to sub-clause (iii) of clause (1) of section 2;(b) the preparation of registers, records and other documents and the form and manner in which such registers, records and documents may be maintained under section 26;(c) the powers which may be exercised by an inspector under clause (e) of sub-section (2) of section 27;(d) any other matter which is to be, or may be, prescribed. (3) Every rule made under this section shall be laid as soon as may be after it is made, before each House of Parliament while it is in session for a total period of thirty days, which may be comprised in one session [or in two or more successive sessions], and if before the expiry of the session [immediately following the session or the successive sessions aforesaid], both Houses agree in making any modification in the rule or both Houses agree that the rule should not be made, the rule shall thereafter have, effect only in such modified for or be of no effect, as the case may be; so, however, that any such modification or annulment shall be Without prejudice to the validity of anything previously done under that rule. 39. Application of certain laws not barred.-Save as otherwise expressly provided, the provisions of this Act shall be in addition to and not in derogation of the Industrial Disputes Act, 1947 (14 of 1947), or any corresponding law relating to investigation and settlement of industrial disputes in force in a State. 40. Repeal and saving.- 14. Computation of number of working days.-For the purposes of section 13, an employee shall be deemed to have worked in an establishment in any accounting year also on the days on which- (a) he has been laid off under an agreement or as permitted by standing orders under the Industrial Employment (Standing Orders) Act, 1946 (20 of 1946), or under the Industrial Disputes Act, 1947 (14 of 1947), or under any other law applicable to the establishment;(b) he has been on leave with salary or wage;(c) he has been absent due to temporary disablement caused by accident arising out of and in the course of his employment; and(d) the employee has been on maternity leave with salary or wage, during the accounting year. COMMENTS “Working days” include days of leave, lay-off. etc. 15. Set on and set off of allocable surplus- (1) Where for any accounting year, the allocable surplus exceeds the amount of maximum bonus payable to the employees in the establishment under section 11, then, the excess shall, subject to a limit of twenty per cent. of the total salary or wage 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 utilised for the purpose of payment of bonus in the manner illustrated in the Fourth Schedule.(2) Where for any accounting year, there is no available surplus or the allocable surplus in respect of that year falls short of the amount of minimum bonus payable to the employees in the establishment under section 10, and there is no amount of sufficient amount carried forward and set on under sub-section (1) which could be utilised for the purpose of payment of the minimum bonus, then, such minimum amount or the deficiency, as the case may be, shall be carried forward for being set off in the succeeding accounting year and so on up to and inclusive of the fourth accounting year in the manner illustrated in the Fourth Schedule. (3) The principle of set on and set off as illustrated in the Fourth Schedule shall apply to all other cases not covered by sub-section (1) or sub-section (2) for the purpose of payment of bonus under this Act. TOP Copyright © 2022 Chief Labour Commissioner(C)

(14) “employer includes-(i)in relation to an establishment which is a factory, the owner or occupier of the factory, including the agent of such owner or occupier, the legal representative of a deceased owner or occupier and where a person has been named as a manager of the factory under clause (f) of sub-section (1) of section 7 of the Factories Act, 1948 (63 of 1948), the person so named; and(ii)in relation to any other establishment, the person who, or the authority which, has the ultimate control over the affairs of the establishment and where the said affairs are entrusted to a manager, managing director or managing agent, such manager, managing director or managing agent; (15) “establishment in private sector” means any establishment other than an establishment in public sector; (16) “establishment in public sector” means an establishment owned, controlled or managed by-(a) a Government company as defined in section 617 of the Companies Act, 1956 (1 of 1956);(b) a corporation in which not less than forty per cent of its capital is held (whether singly or taken together) by-(i) the Government; or(ii) the Reserve Bank of India; or(iii) a corporation owned by the Government or the Reserve Bank of India; (17) “factory” shall have the same meaning as in clause (m) of section 2 of the Factories Act, 1948 (63 of 1948); (18) “gross profits” means the gross profits calculated under section 4; (19) “Income-tax Act” means the Income-tax Act, 1961 (43 of 1961); TOP (20) “prescribed” means prescribed by rules made under this Act; (21) “salary or wage” means all remuneration (other than remuneration in respect of over-time work) capable of being expressed in terms of money, which would, if the terms of employment, express or implied, were fulfilled, be payable to an employee in respect of his employment or of work done in such employment and includes dearness allowance (that is to say, all cash payments, by whatever name called, paid to an employee on account of a rise in the cost of living), but does not include-(i)any other allowance which the employee is for the time being entitled to; (ii)The value of any house accommodation or of supply of light, water, medical attendance or other amenity or of any service or of any concessional supply of food grains or other articles;(iii)any travelling concession;(iv) any bonus (including incentive, production and attendance bonus);(v) any contribution paid or payable by the employer to any pension fund or provident fund or for the benefit of the employee under any law for the being in force;(vi)any retrenchment compensation or any gratuity or other retirement benefit payable to the employee or any ex gratia payment made to him;(vii) any commission payable to the employee. Explanation.-Where an employee is given in lieu of the whole or part of the salary or wage payable to him, free food allowance or free food by his employer, such food allowance or the value of such food shall, for the purpose of this clause, be deemed to form part of the salary or wage of such employee; (22) words and expressions used but not defined in this Act and defined in the Industrial Disputes Act, 1947 (14 of 1947), shall have the meanings respectively assigned to them in that Act. TOPCOMMENTS (i) Employees of State Boards are entitled to bonus. [Orissa State Housing Board v. D.Nayak & Ors., (1989) 2 L.L.N. 241 (Ori.)].(ii)A co-operative bank is a banking company. [Vellore Central Co-op. Bank Ud. v. Industrial Tribunal, (1989) 58 F.L.R. 924 (Mad.)].(iii)Lay-off compensation is included in the terin of “salary” or “wages”. [Mohan Kumar v. Deputy Labour Commissioner, (1991) 62F.L.R. 903 (Ker.)].(iv)When wages are revised, the management has to pay bonus on arrears. [Mumbai Kamgar Union v. Indian Tool Mfrs. Ltd. & Ors., (1981) 1 L.L.N. 391 (Born.)].(v) Dearness allowance and city compensatory allowance are included in the definition of “salary” or “wages” under section 2 (21) of the Act. [S. Krishnamurthy v. Presiding Officer, Labour Court. (1986) 55 F.L.R. 535]. 11. Payment of maximum bonus.-

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