36. (1) Where for any accounting year, the allocable surplus exceeds the
amount of maximum bonus payable to the employees in the establishment under
section 26, 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 such manner as may be prescribed by the Central Government.
(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 26, and there is no amount or 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 such manner as may be prescribed by the Central Government.
(3) The principle of set on and set off as may be provided in rules by the Central Government under this Code 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 Code.
(4) Where in any accounting year any amount has been carried forward and set on or set off under this section, then, in calculating bonus for the succeeding accounting year, the amount of set on or set off carried forward from the earliest accounting year shall first be taken into account.
Section 31 Payment of bonus out of allocable surplus Section 32 Computation of gross profits
Section 33 Computation of available surplus Section 34 Sums deductible from gross profits
Section 35 Calculation of direct tax payable by employer
Section 36 Set on and set off of allocable surplus
Section 37 Adjustment of customary or interim bonus against bonus payable under this Code Section 38 Deduction of certain amounts from bonus payable
Section 39 Time limit for payment of bonus
Section 40 Application of this Chapter to establishments in public sector in certain cases Section 41 Non applicability of this Chapter
Section 42 Central Advisory Board and State Advisory Boards
Section 43 Responsibility for payment of various dues
Section 44 Payment of various un disbursed dues in case of death of employee