Dear all, If performance allowance is part of ctc and a person left his organisation before completion of complete year, whether he would get performance allowance or not? Regards, Vivek
From India, Mumbai
From India, Mumbai
Dear Please explain this performance allowance comes under monthly ctc or annual ctc? It was a fixed or variable allowance? What was the terms and condition of your appointment regarding performance allowance?
From United Arab Emirates, Dubai
42From United Arab Emirates, Dubai
Performance allowance or bonus if part of CTC is payable if one leaves the organization immediately on completion of financial year .This is because the Performance bonus as the name applies is payable after the end of financial year based on Individual's and company performance as per company's laid down criteria and as % of basic salary or fixed lumpsum as mentioned in Yearly Performance Review Letter or Feedback /Increment letter/Offer letter as the case may be.Point worthy of note here is such Performance bonus varies with one's position or level in organizational hierarchy. Such Performance bonus is payable usually by employer subject to one being in existing job continues to be employee of the organization at a future date as per letter of offer/PMS/Increment letter . In other cases, when one leaves the organization due to resignation the Performance Bonus is payable in line with employer's HR practices or policies as applicable on given date . In all fairness all Ethical/Professional organizations do pay performance bonus subject to fulfillment of laid down criteria on pro rata basis to outgoing employee( based on company's and individual's performace),This in most cases is payable at the end of financial year.
From India, Indore
From India, Indore
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