Kindly go thru the attachment.
Any rise which is given after appraisal becomeds permanent.
If your employer states that PLI shall be paid after close of financial year/year end obtain such comments in writing by letter under original seal and signature by hand of the competent employee, and demand to include the amounts in FNF and company may mention that this amount shall be paid in the month of ………..year…….
Many of the employers indulge in sending an email and later do not entertain any claim.
Moreover if you have performed and fetched revenue and profits you must not settle for less.
Designation alone does not decide if employee is a workman or not.
PLI Vs Salary
Salary is paid for the efforts that one puts in and PLI is paid for the results. Salary is paid in short, definitive cycles (e.g., weekly, monthly, fortnightly etc.) while PLI is paid in a longer cycle of monthly, quarterly or half-yearly,yearly.
PLI Vs Appraisal
Appraisals, normally conducted half-yearly or annually is used to decide on the salary increments and promotions of the employee. This, being permanent increase, takes both performance and potential of the employee.
Variable pay/incentive are also described nicely by Indian Railways “ Performance linked incentives act as sweetener. While employer has taken the performance the employee must also get the incentive”
Compensation directly influences key outcomes like job satisfaction, attraction, retention, performance, skill acquisition, co-operation, and flexibility, etc. While employer’s objective is concerned with primarily productivity, the employee’s emphasis may be on higher compensation to offset their increased cost of living and perhaps the price his skill will fetch in the competitive job market.”
“** As per DPE guidelines of 26.11.08, Performance related pay (PRP) is to be linked to MOU rating, profit of the current year, incremental profit (i.e. increase in profit as compared to previous year), grade & individual performance of the officer. Upto 60% of the PRP will be given within the ceiling of 3% of Profit Before Tax (PBT) of current year, and 40% of PRP will come from 10% of incremental profit. The total PRP will however be limited to 5% of the year’s PBT. The performance payment shown above has been computed on notional basis in the revised Pay assuming that Corporation has achieved ‘Excellent’ rating, the officer’s performance is ‘Outstanding’, and profit of the year and incremental profit are sufficient to give full performance incentive.”
