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[Cites 0, Cited by 3] [Section 16] [Entire Act]

Union of India - Subsection

Section 16(1A) in The Payment Of Bonus Act, 1965

(1A)In the first five accounting years following the accounting year in which the employer sells the goods produced or manufactured by him or renders services, as the case may be, from such establishment, bonus shall be payable only in respect of the accounting year in which the employer derives profit from such establishment and such bonus shall be calculated in accordance with the provisions of this Act in relation to that year, but without applying the provisions of section 15.