04 June 2020
You may have to show it as Income....
There is no such provision in the Payment of Bonus Act. If the person demanding the bonus had worked in the establishment during the bonus period is not traceable then you can keep it for one or two years in unclaimed bonus to employees account and then later on write back to revenue. You need not send the amount by post or need not go in search of a left employee as in the case of payment of gratuity where it is mandatory for the employer to pay it within one month. Under the Payment of Bonus Act any claim for bonus should be made within one year of its due date for payment. Therefore, if there is no claim for bonus, we can write it back.
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