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No....First Calculate Net Profit as per P&L A/c...Then make Schedule II Adjustments then gross Profit will be available for Bonus and make Sec 6 and Schedule III deductions. Then u will arrive at Available Surplus. Calculate Allocable Surplus.According to Schedule IV make neccessary Arrangements for 'Set on' and 'Set Off'.The allocable surplus so computed is distributed amongst the employees in proportion to salary or wages received by them during the relevant accounting year.