Computation of available surplus.

- The available surplus in respect of any accounting year shall be the gross profits for that year after deducting therefrom the sums referred to in section 6: 1[ Provided that the available surplus in respect of the accounting year commencing on any day in the year 1968 and in respect of every subsequent accounting year shall be the aggregate of-(a) the gross 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 (ii) 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 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.]

According to Payment Of Wages Act 1965, Allocable Surplus means; In relation to an employer, being a company (other than a banking company) which has not made arrangements prescibed under Income Tax Act for the decalration an payment of dividend in accrdance with section 194 of that Act, 67% of such available surplus in an accounting year. In any other case 60% of such available surplus. It is calculated after determining the available surplus. The allocable surplus is the workers share in the available surpus.

20. The Trade Unions Act, 1926, covers mainly three sets of matters, namely, 1. 2. 3. the conditions governing registration of trade unions, the obligation to which a trade union is subjected after registration. the rights and privileges accorded to registered unions.

I.

Objects of Trade Union:

to foster a spirit of solidarity in service, brotherhood and cooperation amongst all workers; to secure effective and complete organisation of the workers; to obtain and maintain adequate scale of wages and responsible hours, of work; to raise the status and improve the conditions of life of the workers; to secure redressal of the grievances of the members and to regulate and secure as far as possible settlement of disputes by mutual consultation and on its failure, by reference to arbitration or adjudication; to make necessary arrangements for efficient conduct and satisfactory conclusions of all disputes including authorised strike or satyagraha, etc. a) b) c) to regulate the relations between workmen and employers. to regulate the relations between workmen and workmen. to regulate the relations between employers & employers.

Procedure for Registration of a Trade Union.

Any 7 or more members of a trade union by subscribing their names to the rules of the trade union may apply for the registration of the trade union in the prescribed application along with the requisite fees, which shall be accompanied by the Rules of the Trade Union. The particulars that need to be elucidated in the said application form (Form A) along with the Rules are as follows: Name of the trade union and address of the Head office. The names, occupations and addresses of members making the application. The titles, names, age, address and occupations of the office bearers. If the union is in existence for more than one year before th date of application, the applicants must enclose a statement of liabilities and assets of the trade union. Cancellation of Trade Union: a) b) c) d)

The Registrar can cancel/revoke the registration under the following conditions: If the registration is obtained by mistake or by fraud. If the Trade Union ceases to be in existence. If the Trade Union has willfully contravened any provisions of law. If the Trade Union has incorporated any rules which is/are inconsistent with the law of the land. However, the Registrar cannot cancel registration without giving a 2 month notice and without complying the principles of natural justice. Individual dispute and industrial dispute: Industrial dispute means any dispute or difference between employers and employers, or between employers and workmen or between workmen and workmen, which is connected with employment or non-employment or the terms of employment or with the conditions of labour of any person. The dispute has to be between plurality of workman and employer Individual workman cannot raise an industrial dispute A trade union or a number of workmen must rise the dispute What number of workmen are required to rise an industrial dispute The SC has said that substantial number of workmen will have to rise the dispute The Sc has said that substantial number is not majority It must however be such number as to lead an inference that the dispute is one which affects the workmen as a class. a. b. c.

26. Applicability i) Every establishment which is a factory engaged in any industry specified in Schedule 1 and in which 20 or more persons are employed and

ii) Any other establishment employing 20 or more persons which Central Government may, by notification, specify in this behalf. (Infancy period of 3 years has been withdrawn by ordinance w.e.f.22-9-97) iii) any establishment employing even less than 20 persons can be covered voluntarily u/s 1(4) of the Act. Eligibility Any person who is employed for work of an establishment or employed through contractor in or in connection with the work of an establishment. Benefits at a glance 1. Advance for Purchase of Dwelling Site. 2. Advance for Purchase of Dwelling House/flat. 3. Advance for Construction of a House. 4. Advance for Repayment of housing loan to State Govt. housing board or any other govt. recognised housing finance body. 5. Advance for IIIness viz. Hospitalisation for more than month, major surgical operations or suffering from TB, leprosy, paralysis, cancer, heart ailment etc. 6. Advance for Marriage of Self/Son/Daughter/Sister/Brother. 7. Advance for Post MatriculationEducation of Son/Daughter. 8. Advance for Damage to the property Due to Natural calamity (Flood Riot/Earthquake). 9. Advance for Member affected by cut in the supply of electricity. 10. Advance for Member who is physically handicapped. [ A member employee can also withdraw full amount standing to his credit. in fund (para 69).....] a) on Resignation. b) On Retirement from the service on attaining the age of 58 yrs. c) on Retirement on account for permanent or total incapacity to work. d) immediately before Migration from India for permanent settlement abroad or for taking up employment abroad. e) on Termination due to voluntary retirement Scheme, retrenchment, closure of the factory/establishment