Section 31: Payment of bonus out of allocable surplus.

The Code on Wages, 2019Central Act · Act 29 of 2019

(1) The bonus shall be paid out of the allocable surplus which shall be an amount equal to sixty per cent. in case of a banking company and sixty-seven per cent. in case of other establishment, of the available surplus and the available surplus shall be the amount calculated in accordance with section 33.

(2) Audited accounts of companies shall not normally be questioned.

(3) Where there is any dispute regarding the quantum of bonus, the authority notified by the appropriate Government having jurisdiction may call upon the employer to produce the balance sheet before it, but the authority shall not disclose any information contained in the balance sheet unless agreed to by the employer.

Where this provision sits

Act	The Code on Wages, 2019
Section	31
Marginal note	Payment of bonus out of allocable surplus.
Jurisdiction	Central
Status	In force as published by the source

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