Dear All
TIME -LIMIT FOR PAYMENT OF BONUS
pease refer Sec 19 of Payment of Bonus Act which provies that
All amounts paybale to an employee by way of bonus under the Act shall be paid in cash by his employer -
(a)-where there is a dispute regarding payment of bonus pending before any authority u/s 22 , within a month from the date on whhich the award becomes enforceable or the settlement comes into operation , in respect of such dispute;
(b) in any other case , within eight months from the close of the the accounting year.
Provided that the appropriate Govt or such authority as the case may specify in this behalf may , upon an application made to it by the employer and for sufficient reasons , by order , extend the said period of eight months to such further peiod or periods as it thinks fit; so , however, that the total period so extended shall not in any case exceed two years
it is neither calander year nor financial year but accounting year.
now what is accounting year , please goto Sec. 2 sub-sec-1 defines the Accounting year.
I hope above will clear your doubts