Payment of Bonus Act - Checklist
Following is the illustrative checklist under the Act
1. Check whether the Act is applicable to the establishment.
2. Check whether it is a new establishment or an establishment in public sector.
3. Check whether bonus is paid to all employees drawing salary or wage not exceeding Rs. 10,000/- per month.
4.Employer to maintain : -
o Register in Form A showing allocable surplus.
o Register in Form B showing set-on and set-off allocable surplus.
o Register in Form C showing Bonus paid, deductions made in respect of the employees for each accounting year.
5.To submit annual return in Form – D within 30 days of the expiry of time limit for payment of bonus.
Please help me in these doubts:
- When is Bonus Act applicable?
- How to register for the Bonus Act?
- Who are eligible for Bonus?
- How much Bonus should be paid?