Assessing the applicability of the enactment
Preparation of Form no. A and B, which is based on Income Tax and Balance Sheet
Advising on payment of bonus and its disbursements - Form no. C
Preparation of yearly return in form no. D
Advising on disposal of unclaimed bonus
It’s a profit sharing bonus. It gives the right to employees from the profit of the employer. Minimum and maximum bonus limits are prescribed. Certain concessions are given to the new employers and loss making employers
To every factory
To other establishments provided employing 10 or more persons
Once applicable remains applicable
Employee is entitled for bonus provided worked for minimum 30 days and rate of salary (Basic + DA) is below Rs. 10,000/- pm in a financial year
Maintenance of A & B registers based on balance sheet and income tax rules
Maintenance of C register i.e. disbursement of bonus to employees
Annual return in Form no. D
Provisions of payment of bonus, if not paid according this enactment punishment of imprisonment or fine are in the enactment
