Time limit for bonus payment: employers must credit bonuses within the statutory period; provisional payment required during disputes. Employers must credit bonus amounts to employees' bank accounts within eight months from the accounting year end; the Government may extend this period on ... Summary
Time limit for bonus payment: employers must credit bonuses within the statutory period; provisional payment required during disputes.
Employers must credit bonus amounts to employees' bank accounts within eight months from the accounting year end; the Government may extend this period on application but total extensions cannot exceed two years. Where bonus payment is disputed, the amount in dispute must be paid within one month of an enforceable award or settlement; if the dispute is over a higher rate, the employer must make a provisional payment equal to eight and one third percent of wages within the original statutory period.
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