Section 2(4) in The Maharashtra Co-Operative Societies Act, 1960
(4)"bonus" means payment made in cash or kind out of the profits of a society to a member, or to a person who is not a member, on the basis of his contribution (including any contribution in the form of labour or service) to the business of the society, and in the case of a farming society, on the basis both of such contribution and also the value or income or as the case may be, the area of the lands of the members brought together for joint cultivation as may be decided by the society [but does not include any sum paid or payable as bonus to any employee of the society under the payment of Bonus Act, 1965;] [This portion was added by Maharashtra 27 of 1969, Section 2(a).].
