Sunday, December 1, 2013

Registers to be Maintained under the Payment of Bonus Act, 1965

Every employer is required to maintain the following registers in the prescribed form:

1. Register showing the computation of allocable surplus (Form A)
2. Register showing the set-on and set-off of the allocable surplus (Form B)
3. Register showing the details of the amount of bonus payable to each of employees, the amount of deductions if any, and the amount actually paid. (Form C)

The employer is also required to send an annual return to the Inspector appointed under the Act within 30 days from the expiry of time limit specified in Section 19 for payment of bonus. (Form D)