Maintain Bonus Register FORM B

[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

AI Summary

Company Queries Need for Bonus Register Form B for Employees Earning Up to 10,000; Expert Recommends Detailed Record Keeping. A company inquires about the necessity of maintaining Bonus Register Form B under Indian law for employees with a basic salary up to 10,000. They pay a 20% bonus based on 3,500 per month, regardless of company profits. They currently document that bonuses have been paid to all eligible employees for the financial year 2013-14. An expert advises that it is beneficial to record detailed information, including employee names, designations, days worked, basic pay, bonus payable, and payment dates in the register.