Maintain Bonus Register FORM B, Other Topics

[Bhairob Chandra Bor]

Dear Experts,

In our company bonus payment systems are as follows:

1. eligibility - Employees whose Basic Salary up to ₹ 10,000 (as per current law)

2. Bonus is calculated on Rs.3500PM (as per law) @20% for the employees whose basic are up to ₹ 10000pm. 20% is straightway calculated for the employees whose basic are below ₹ 3500pm

kindly advice in this case the Bonus Register-Form B (Under Section Rule 4(b) is mandatory to maintain? we maintain that FORM B but simple written that the "Bonus has been paid to all eligible employees for the financial year 2013-14.

As per our understanding we are doing correctly because we pay bonus on maximum side that is 20% for eligible employees and we don't refer the companies profit that is allocable surplus as because we pay bonus even if company suffer from low profit/losses.

kindly advice - 1. is it ok what we are doing? 2. if required to maintain advice how the columns to be filled in details.

kind regards,

bcb

Posts / Replies

[MARIAPPAN GOVINDARAJAN]

It is better to note the names of all employees in your organization, with his designation, the no. of days worked during the financial year for which the bonus is paid, the basic pay, the amount payable to the employee, the amount paid to him, the date of payment may be included in the form.