Bonus Year and Accounting Year
The bonus year is determined by the accounting year. If your accounting year runs from January to December, then the bonus will be calculated for that period. Similarly, if the accounting year is from April to March, the bonus will be calculated from April to March.
Details of Form C
Now, addressing your query: Form C is used for calculating individual bonus details and includes several specifics such as:
- Employee name
- Father's name
- Whether the employee has completed 15 years of age at the beginning of the accounting year
- Number of days worked in the year
- Total salary or wages for the accounting year
- Amount of bonus payable under Section 10 and 11, as applicable
- Puja bonus or other customary bonus paid during the accounting year
- Interim bonus or bonus paid in advance
- Amount of income tax deducted
- Deductions due to financial loss, if any, caused by employee misconduct
- Total sum deducted under columns (9, 10, 10A, 11)
- Net payable (Column 8 minus Column 12)
- Amount actually paid
- Date on which payment was made
Details of Form D
Form D is a summary of Form C and includes the following details:
- Total amount payable as a bonus under Section 10 or 11 of the Payment of Bonus Act, 1965, as applicable
- Settlement, if any, reached under Section 18 (1) or 12 (3) of the Industrial Dispute Act, 1947, with the date
- Percentage of bonus declared to be paid
- Total amount of bonus actually paid
- Date on which payment was made
- Whether the bonus has been paid to all employees; if not, reasons for non-payment
- Remarks
It is mandatory to submit Form C, Form D, along with Forms A & B.