39. (1) All amounts payable to an employee by way of bonus under this Code shall be paid by crediting it in the bank account of the employee by his employer within a period of eight months from the close of the accounting year:
Provided that the appropriate Government or such authority as the appropriate Government 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 period or periods as it thinks fit; so, however, that the total period so extended shall not in any case exceed two years.
(2) Notwithstanding anything contained in sub-section (1), where there is a dispute regarding payment of bonus pending before any authority, such bonus shall be paid, within a period of one month from the date on which the award becomes enforceable or the settlement comes into operation, in respect of such dispute:
Provided that if, there is a dispute for payment at the higher rate, the employer shall pay eight and one-third per cent. of the wages earned by the employee as per the provisions of this Code within a period of eight months from the close of the accounting year.
Section 31 Payment of bonus out of allocable surplus Section 32 Computation of gross profits
Section 33 Computation of available surplus Section 34 Sums deductible from gross profits
Section 35 Calculation of direct tax payable by employer
Section 36 Set on and set off of allocable surplus
Section 37 Adjustment of customary or interim bonus against bonus payable under this Code Section 38 Deduction of certain amounts from bonus payable
Section 39 Time limit for payment of bonus
Section 40 Application of this Chapter to establishments in public sector in certain cases Section 41 Non applicability of this Chapter
Section 42 Central Advisory Board and State Advisory Boards
Section 43 Responsibility for payment of various dues
Section 44 Payment of various un disbursed dues in case of death of employee