Hi,
I have a variable component of 10 percent mentioned in the CTC. In the employee agreement it says “bonus will be paid annually”. That’s it, in entire document that’s the only about the bonus. It doesn’t say anything for resigned employees. Usually bonus is paid in March payroll. My last day is on 8th of March. When I asked about my variable compensation they said I will not receive as I’m not employed until 31st March. I argued where it is mentioned. They told that “bonus will be paid annually” itself says everything. I further argued that I’m present for March payroll wouldn’t be that enough. Is my argument valid? Can I do anything about this?
From India, Hyderabad
I have a variable component of 10 percent mentioned in the CTC. In the employee agreement it says “bonus will be paid annually”. That’s it, in entire document that’s the only about the bonus. It doesn’t say anything for resigned employees. Usually bonus is paid in March payroll. My last day is on 8th of March. When I asked about my variable compensation they said I will not receive as I’m not employed until 31st March. I argued where it is mentioned. They told that “bonus will be paid annually” itself says everything. I further argued that I’m present for March payroll wouldn’t be that enough. Is my argument valid? Can I do anything about this?
From India, Hyderabad
Statutory bonus will have to be paid to a left employee provided he has worked at least for 30 days in the financial year. Moreover, an amount of bonus shown in the contract of service or appointment order is a condition of service and is payable to a resigned employee proportionate to the days worked in the year.
From India, Kannur
4250From India, Kannur
If you qualify for bonus by working for the minimum working days of 30 days in the preceding financial year, then you can claim it as a right. But there are a few important points to be noted with reference to statutory bonus. Please note that in my previous reply also I have used the term "statutory bonus". Statutory bonus is the amount of bonus calculated as per statute. At the same time, an amount of bonus shown as a part of remuneration or as one of the conditions of service shall also be payable even if the employee has left the establishment. This is because bonus is also considered as deferred wage, ie, part of wage which is held to be paid in lump sum on a later date.
Labour disputes are normally disposed of very quickly when it is filed before the labour authorities and not be fore the Court
From India, Kannur
Labour disputes are normally disposed of very quickly when it is filed before the labour authorities and not be fore the Court
From India, Kannur
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