You should intimate the Company regarding your poor financial condition in writing and ask them to hold the cheque no ............ issued to company. Send Letter through speed post and also mail to official email ID of the concerned officer of the company, along with attached scanned copy of letter. If possible give them by hand and take proper receiving of letter.
Otherwise Company can prosecute to u/s 138 of NI Act and can also u/s 420 of IPC, even more depends on the facts.
you have sufficient time. approach the company and take back the cheque if possible. pls dont ask for stop payment of the cheque without informing the bank. request the company for time and issue a new cheque after taking back this cheque, so that you can avoid unnecessary hassle.
send a letter to them and mention your intention and situation regarding the payment, they will be consider the same if there is no other issues between you and them.
if they are not ready to accept your request then no need to worry, when the cheque got bounce they are bound to serve a notice to you and when you received the notice then within 15 days you may make the payment of the said cheque amount and then they can not file any case against you for cheque bouncing.