Set on and set off of allocable surplus governs carryforward of excesses and shortfalls for bonus payments.

The amendment substitutes section 15 to require that any allocable surplus in an accounting year exceeding bonus payable be carried forward as a set on, subject to a limit measured against total salary or wage, to be used for future bonus payments; where surplus is absent or insufficient and no carried forward amount exists, the shortfall must be carried forward as a set off for succeeding years; the Third Schedule's illustration of the set on and set off principle applies to all other cases.

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