The Gazette of India
EXTRAORDINARY
PART II—Section 1
PUBLISHED BY AUTHORITY
No. 2] NEW DELHI, FRIDAY, JANUARY 10,, 1969/PAUSA 20, 1890
Separate paging is given to this Part in order that it may be filed
as a separate compilation.
MINISTRY OF LAW (Legislative Department) New Delhi, the 10th January, 1969/Pausa 20, 1890 (Saka)
THE PAYMENT OF BONUS (AMENDMENT) ORDINANCE, 1969 No. 2 or 1969
Promulgated by the President in the Nineteenth Year of
the Republic of India.
An Ordinance further to amend the Payment of Bonus
Act, 1965.
WHEREAS Parliament is not in session and the President is satisfied that circumstances exist which render it necessary for him to take immediate action;
Now, THEREFORE, in exercise of the powers conferred by clause (1) of article 123 of the Constitution, the President is pleased to promul- gate the following Ordinance: ••-
1. (I) Tins Ordinance may be called the Payment. of Bonus
(Amendment) Ordinance, 1969
Short title and com- mencement
12 THE GAZETTE Oi INDIA EXTRAORDINARY | PART U—Stc. I|(2) It shall come into force at once.
Z. During the period of operation of this Ordinance, the Payment of Bonus Act, 1965, shall have effect subject to the modification that u> section 5 thereof, the following proviso shall be added, namely :-• Act il oi 1965 to be temporariU > mended.
"Provided that the available surplus in respect of the account- ing year commencing on any day in the year 1968 and in respect of every .subsequent accounting year shall be the aggregate of—
(a) the- tjross profits for that accounting year after deducting therefrom the sums: referred to in section 6': and
(b) an amount equal to the difference between—
(i) the.direct tax, calculated in accordance with the provisions of section 7, in respect of an amount equal to the gross profits of the employer for the immediately preceding accounting year; and
(n) the direct tax. calculated in accordance with the provisions of section 7, in respect of an am&unt equal to the gross profits of the employer for such preceding accounting year after deducting therefrom the amount of bonus which the employer has paid or is liable to pay to his employees in accordance with the provisions of this Act for that year.".
ZAKIR HUSAIN,
President.
V. N. BHATIA,