Payment of Bonus Act, 1965
Applicability:
Establishments with 20 or more employees.
Eligibility:
Employees earning wages up to ₹21,000/month and having completed 30 days of service.
Contribution:
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Bonus payable @ 8.33% to 20% of annual salary, subject to profitability and allocable surplus.
Due Date:
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Bonus to be paid within 8 months of financial year ending (i.e., by 30th November).
Non-Compliance:
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Fine up to ₹1,000 and/or imprisonment up to 6 months.
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Form C needs to maintained on monthly basis
Return Filing Deadline:
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The bonus return, in Form D, must be submitted to the inspector within 30 days after the expiry of the eight-month period for bonus payment. Therefore, the bonus return is due 30 days after July 31st, which is August 30th.
