Fnf not paid in full

Respected Sir,

As per the service rules and Bonus payment Act ,you are eligible for all the benefits,including incentives as u have served for the full year.Even, if any body not served for full year,they are entitled for the benefits on pro rata basis.I advice you , to represent your case once again to CMD  to examine and review wrf to the guidlines framed and issued by the GOVT. Incase if u don't receive a positive reply , contact a near by good advocate and issue  a LEGAL notice to CMD concerned.

Good Luck,

Sudhakar.RVS

Advocate, Hyderabad

Sir,

   Please sent a Notice to your Employer by giving 21 days time by RPAD requesting to pay the all incentives etc otherwise to pay Compensation  amount of Rs..........;......

   If no reply is received, file a case in Consumer Court in your area for their deficiencies in services.

C. Shanmugam

E Mail: shanmugam628@yahoo.co.in

Dear Sudhakar and Shanmugam Sir 

Thanks a lot for your kind reply just want to know the that

CMD stands for what?

RPAD stands for what?

Regards

Shriram Birla

1.     Since you have worked for full period of incentive scheme:

---The Pro Rated calculations are not applicable.

---The 30% amount of quarterly incentive withheld is to be paid. Ideally no portion of quarterly payout should  be withheld. However  company may claim it was withheld as per T&C of the scheme and also in order to relate it to the performance criteria linked with next qtr and year e.g. returns from market etc…………………….

---You should be paid the yearly incentive since you have performed and to deny it on grounds of ‘employee’ should be on rolls’ on the day of incentive disbursement is just a private policy of the employer.

One fine day employer may conceive idea that earned wages (salary) shall not be paid if employee is not in employment on the usual pay day!

The employer shall certainly claim that the incentive is not part of earned wages and the declinature is in line with the private policy of rewards and awards……………………………………as if it agrees in once case it shall have to agree in all cases and it may set a precedence.

---As rightly interpreted by you the yearly incentive is nothing but 30% portion of quarterly incentive (Qi+Q2+Q3+Q4) that is withheld by employer and you have fulfilled T&C for each quarter……………………………Moreover employer although earns returns on this withheld amount does not pay (probably) any interest overriding amount on withheld amount.

The HR personnel including VP have denied in line with internal policies for them.

You have made a representation to MD and that is probably the last in escalation matrix. Let the good office of MD convey its decision to you………………………..

2.     As a Sales Manger you may be covered as:

    --- ‘Workman’ as in ID Act,

    ---‘Employee’ as in ‘(Name of the state) Shops and Commercial Establishments Act………………………….

However let your lawyer examine and opine finally on it.

3.     A reference has been made to THE PAYMENT OF BONUS ACT, 1965; in this thread.

This Act is  applicable to all employees including a manager but drawing salary or wages upto Rs.10000/pm.

Sec: 2. Definitions.: (21) "salary or wage" means all remuneration (other than remuneration in respect of overtime work) capable of being expressed in terms of money, which would, if the terms of employment, express or implied, were fulfilled, be payable to an employee in respect of his employment or of work done in such employment…………………………… but does not include—

(iv) any bonus (including incentive, production and attendance bonus);

Section 2(13) & 8: Every employee who is drawing a salary or wage upto Rs. 10000.00 per month (w.e.f. 1-4-2006) and who has worked for minimum period of 30 days in a year is entitled to be paid bonus.

{{Thus employer may contend that incentive can not be claimed under this Act and also that employee was drawing more than Rs.10000/pm………………………..employee shall need to establish that it was an amount under Sec2(21).}}}

4.     Private banks are covered by (name of the state) Shops and Commercial Establishment Act.

However this state  Act of your state be checked and let your lawyer opine on it.

If covered Inspector under this Act can be approached.

THE PAYMENT OF WAGES ACT, 1936:ACT NO. 4 OF 1936 1*: { applicable to all employees drawing wages upto Rs.18000/pm as per def. of wages in this Act}

2. Definitions.-: 3*[(vi) "wages" means all remuneration (whether by way of salary, allowances or otherwise) expressed in

terms of money or capable of being so expressed which would, if the terms of employment, express or implied, were fulfilled, be payable to a person employed in respect of his employment or of work done in such employment, and includes—

(c) any additional remuneration payable under the terms of employment (whether called a bonus or by any other name);

5.     The employee may claim that the employer has breached the trust.

       6. The employee has achieved the target month on month. The declintaure claiming standard practice may get termed as arbitrary.

If you are unable to resolve with your own efforts approach an able labor Consultant/service lawyer.

Dear Kumar Sir 

Thanks a lot for you details reply to me.

There are some points which I like to write are as below: 

1) My Net take home was approx. 29000/-

2) The 30% amount of quarterly incentive withheld is to be paid. Ideally no portion of quarterly payout should  be withheld. However  company may claim it was withheld as per T&C of the scheme and also in order to relate it to the performance criteria linked with next qtr and year e.g. returns from market etc…………………….

Same was linked with performance criteria and was linked to Qtr 80% achievement to the target as well as yearly achievement of 90% to the target. In my case my Qtr achievement was more then 100% every Qtr also same was 124% in yearly target vs achievement. 

3) You should be paid the yearly incentive since you have performed and to deny it on grounds of ‘employee’ should be on rolls’ on the day of incentive disbursement is just a private policy of the employer.

As much I have read the incentive policy of the company it says:

"Incentive will be paid after the year end and the staff needs to be in employment as on the date of disbursement of the incentive/bonus payments"

By going line by line to policy, Incentive will be paid after year end -- what I come to understand is, year ends on 31 March but the bank has not released amount till may and not even June as much I know. 

(So as per bank year ends after June) 

More over I have not been paid the amount of incentive for the month of May and June as well as the Qtr was not completed at my end.

I have paid to bay back my notice and I have received the experience and relieving letter so it proves that I have not breached the trust or policy of the banks

Please suggest or help me to know if any govt forum is there which can be help full in this ref...

Thanks A Lot 

Shriram

You have the Incentive Policy document in your hands and you have quoted from it.

As per your post you seem to have taken perfect ground that date of disbursement can not be indefinite or decided arbitrarily by the bank...................................................provided it is not written in the Q4 (Last Qtr of the year/or 4 month of yearly term of incentive period) that in next Q1(of next  year/or 1st month of next yearly term of incentive period) the employee has to achieve 80% or so............................

Even then the yearly incentive has to be paid..........................

Still if you have been an outstanding performer and if in less than 3 months of Q1 of next year if you have achieved say 80%/90%/100% then you can comfortably highlight it also to MD.

Your bank or for that matter HR personnel of any employer believe that incentives/performance bonus is an investment and in case it is paid to an outgoing employee it shall not fetch any ROI.

Endeavor your best to fetch relief from MD or approach other forums.

The smart employee shall carry business/credibility/revenue with him to his next venture. Hope you can read between the lines!

What was the notice period inserted in appointment letter issued to you?

Dear Sir,

             CMD means Chairman and Managing Director

             RPAD means Registered Post With Acknowledgment  Due- Postal Acknowledgment Card

            Regards,

C.Shanmugam

14-09-2014

The query has been properly addressed by expert Mr. Kumar Doab, you may follow his advises.