How To Register Under Bonus Act

A register showing the details of the amount of bonus due to each of the employees the deductions under sections 17 and 18 and the amount actually disbursed in form c.

How to register under bonus act. The payment of bonus act 1965 provides for the annual payment of bonus to employees of certain establishments including factories and establishments employing 20 or more persons. Every employer is required to maintain the following registers in the prescribed form. Registration under building other construction workers bocw act 1996 name of approval noc licence registration registration under building other construction workers bocw act 1996 1. Sla number of days 30 days as per citizen charter 4. The payment of bonus act applies to the whole of india.

The establishments covered under the act shall continue to pay the bonus even if the no of employees falls below 20 subsequently. The objective of the payment of bonus act is to reward the employee of the organization by sharing the profits earned and is linked to productivity. Under the act bonus is calculated on the basis of the employee s salary and the profits of the establishment. C a register showing the details of the amount of bonus due to each of the employees the deductions under sees. 15 in form b.

Payment of bonus act applicability. Competent authority labour department 2. Stage post and pre commissioning stage 3. 30 may 2012 computation of amount available for distribution as bonus the establishment has to prepare a balance sheet and profit and loss account of the year and calculate the gross profit available surplus and allocable surplus as per method and formula given in bonus act. 17 and 18 and the amount actually disbursed in form c.

Act not applicable to certain employees of lic. Form a under bonus act. Query on bonus register as per rule 4 a 4 b corporate law. Non applicability of the act. 22nd september 2012 from india kumbakonam.

Bonus is to be paid within 8 months of closing the book of accounts. Form a b and d with regard to bonus. Form a bonus act word format. The provision of this act applies to the. Computation of allocable surplus and set on set off is a subject of a person who does finalization of accounts.