I have served as a senior executive for 25 years in a MNC company.I decided to take an early retirement in nov 2014. My dues were settled accordingly.An incentive used to be paid at the end of april the following year.When I did not receive the same and started enquiry as to the reason for not receiving the same on pro rata basis,I was informed that a new policy has been put in place where the incentive for that year is forfieted if a employee leaves employment in between jan and dec.The incentive paid is 30% of the gross wages and are paid based on performance of several components related to co performance and unit performance and individual performance.My view is this policy is in no way different from a fuedal lord who holds back a portion of the wages to ensure loyalty and refuses to pay the same if the inividual refuses to continue.Also what happens to people who retire during the year is also not clear.The company refuses to give me a copy of the policy.The escalation of this issue has been done up to HR director with no releif.I wish to know if this can be challenged and the way forward on this issue.We are talking about 1.5 to 1.6 lacs post tax.can somebody help.
