Section 4
Computation of gross profits.
The Payment of Bonus Act, 1965
About this Act
An Act to provide for the payment of bonus to persons employed in certain establishments and for matters connected therewith.
1[4. Computation of gross profits.--The gross profits derived by an employer from an
establishment in respect of any accounting year shall--
(a) in the case of a banking company, be calculated in the manner specified in the First Schedule;
(b) in any other case, be calculated in the manner specified in the Second Schedule.]
(a) in the case of a banking company, be calculated in the manner specified in the First Schedule;
(b) in any other case, be calculated in the manner specified in the Second Schedule.]
Notes
1. Subs. by Act 66 of 1980, s. 3, for section 4 (w.e.f. 21-8-1980).