STATUTORY BONUS PAYMENT CHECKLIST
For employers covered under the Payment of Bonus Act, 1965.
Applicability
- ☐ Establishment coverage confirmed (20 or more employees)
- ☐ Accounting year for bonus computation fixed
- ☐ Newly set-up establishment exemption period checked
Eligibility
- ☐ Employees within the wage-eligibility ceiling identified
- ☐ Minimum 30 working days in the year verified
- ☐ Disqualifications (fraud / misconduct) considered
- ☐ Eligible employee list finalised
Computation
- ☐ Allocable and available surplus computed
- ☐ Bonus wage-ceiling applied to salaries
- ☐ Minimum bonus (8.33%) ensured for all eligible
- ☐ Maximum bonus (20%) cap applied
- ☐ Set-on / set-off of surplus carried forward
Payment
- ☐ Bonus paid within 8 months of accounting year end
- ☐ Payment made through traceable / bank mode
- ☐ Employee-wise bonus register maintained
Records & Returns
- ☐ Register of allocable surplus (Form A) maintained
- ☐ Register of set-on / set-off (Form B) maintained
- ☐ Register of bonus paid (Form C) maintained
- ☐ Annual return (Form D) filed with authority
Note: Statutory bonus must be paid within eight months of the close of the accounting year; maintain Forms A, B, C and file Form D to stay compliant.