ChandanLawyersclub
20 July 2017 at 22:30
Dear Experts,
companies at senior level give 15-20% variable pay(80% fix+20% variable). Variable pay, which they use to pay to any one who completes financial year with company. Suppose one resigns and gets relieves after 31st March will get variable pay. Company use to send cheque to home, once it is declared.
From some years my company has changed the policy, variable pay will be only given if you are on roll on the date of disbursement. Normally they disburse it in July- august to reduced cost , as much you delay , leaving people will not get.
Since it is pay of previous financial year, this rule was made by some smart finance guy to save cost.
Is it legal for any company not to give variable pay of previous year despite employee has completed full financial year with the company. What labor law says on that.
thanks in advance
Gauri
14 July 2017 at 14:07
I work with a agency. I got 20%hike in nov and was cited as a good resource by my boss Mr A in the appraisal meeting (it was a normal chitchat I realised when he cited me a good resource, parametrised form which took me hours to fill in was not even opened). I came to hear bad mouthing about my work image by my reporting boss Mr B (B reports to A)
I wanted to discuss the same with Mr A so that he can resolve the matter but Mr A was not giving me time as he always showed that he is busy.
In Feb Mr A called me, senior HR was sitting there I thought they wanted to solve my queries. HR said Hi you have to resign from your work and you can stop coming from tomorrow. When I asked for the reason they said client do not want you to work on the account( I have never met that client also there was no direct interaction) in appraisal I told Mr A that MR B do not let me meet client also he stops me going in client meetings. It's been a year that I have went for a meeting also there is no formal interaction. HR told me do not discuss the issue with anyone and resign quietly as your image can be spolied. I shared this with CEO and he assured me that necessary actions will be taken.
I still went for work for 2 months and no work was assigned to me. I kept writing to them this situation can lead me to depression but nobody came forward to help me and finally they offered to work in another unit which I denied and asked for the reply of my email.
They started forcing me to join or they will take actions against me. I stopped going to work and challenged them to share the reply on the queries I raised.
I also maile dto global team and the final result was client do not wanted me to work on the account. When I asked for proof they said they cannot provide client emails.
In May I had to visit psychiatrist and he declared that because of office trouble I have major depressive disorder.
Now they have closed the investigation and are forcing me join the other unit or they will assume that I have resigned.
This will be the fourth year when my promotion is due and they say that you have to work for another year with the new team for apprisal. I feel cheated as I have spent 7 years with the organisation.
Please suggest.
Delhi NCR
Sanchita
14 July 2017 at 01:57
One fine day I was fired by HR and my boss with the invalid reason and without a prior notice. They said client does not want you to work on the account when I told hr that I have never met client she said no to discuss with anyone and will give you 3 months of salary.
I complained abt the incidence to global team and chairman also but no one is ready to admit co. Mistake. What should I do now?
Sharada A
13 July 2017 at 17:43
One of listed company has collected the FD's and they have paid the interest till the maturity date and the principal amount paid 2 years after the maturity date,
they have shown reason as government had changed some of the company law therefore they are not able to pay the principal amount at the time of maturity date therefore they have paid the principal amount after two years.
are the responsible to pay the interest for this delayed two years.
pls advs
Sankaran
12 July 2017 at 12:32
I have 8000 shares of a company listed in Stock Exchange Mumbai which Reference to BIFR and winding up petition filed ; Trading suspended as per NSDL . Are there any entitlement of a settlement claim for me If yes what is the procedure to claim?
Regards
Snehal Mehta
12 July 2017 at 07:26
Dear Experts
I have joined a company as a Legal Manager.
I seek your guidance for a problem that I am facing in contracts executed by the company.
After reviewing some 10 operation contracts with various vendors I have found that certain clauses are not in the best interest of the company and have suggested my superiors in my company to consider changing these points.
However as the contracts have been executed almost 9 months back and the operation team is unwilling to approach the vendors to make amendments.
Also the said contracts have no specific provision to revise clauses except financial that too after a period of on an average 3 years.
As I am not an expert in contract law I request your guidance that if as a representative of the company I want to change certain clauses of an executed contract that is as old as 9 months ,then as per the Indian contract act or any similar law what options do I have such that I can enforce the changes on the other party while keeping the contract valid.
Please guide me as I have stirred up a controversy in my company but not sure of the remedies that can be taken.
Regards
Snehal Mehta
Anonymous
10 July 2017 at 18:15
Sir,
We are a Pvt Ltd. Company & a small enterprise having registered office & Manufacturing unit in MP & Also got a manufacturing unit in Gujarat. We have filed a memorandum under Section 8 (1) with the authority in MP in 1997. But didnot filed memorandum in Gujarat in respect of our mfgs unit in Gujarat.
We have started Production at Gujarat in 2012. But we have filed memorandum under Section 8(1) with authorities in Gujarat in 2015 stating that the date of commencement of production is 2012.We got EM PART-II in 2015.
In this connection, we may refer to Section 8 (1) (a), whereby it is discritionary for a small enterprise to file memorandum We have supplied material to a gujarat based company from our Gujarat based manufacturing unit in 2013-2014 & that company has not paid us.
1. Whether the facilitation Council in Gujarat is Competent to adjudicate our reference for recovery of principal amount alongwith Interest ?
2. If the council in Gujarat is not competent bcoz memorandum was filed late, will the facilitation council in MP would be competent to adjudicate in the matter ? In view of the fact that our registered office is located in MP
Common Man
10 July 2017 at 12:44
Sir,
A Pvt Ltd Company has provided False turnover on March'2016 for around Rs.2 Crores and availed CC Loan from Banks and Borrowed some funds from Third Parties. And the Stock Statement provided to bank was also consists of false values. Stock was available only for 15 Lacs and Stock Statement was provided for Drawing Power around 1.5 Crores . Can the company be sued ? If yes to whom the Complaint to be made ?
Soniya Patel
07 July 2017 at 18:34
Hi Team,
This is Soniya from Mumbai. I was terminated from my job because i was using company's phone for doing personal calls during work time. Our private numbers were not allowed during working hours. Hence, i was terminated on the spot. I was not given any warning or nothing. Company didn't wanted to talk about that issues and directly sent termination letter. I served more than 2years in that company. And now company is not giving me relieving letter. Please advise me whether this is correct as per law.
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How party be changed in same contract
Sir,
Thanks !!!
My company "C" placed purchase order to vendor "V" for a rate contract for two years for supply to a location "L" of the company. The vendor "V" has executed part of the order.
In the meantime my company "C" has formed a joined venture company "J" and the particular location "L" is now part of the new joint venture company "J".
Now, the unexecuted part of the contract is required to be shifted to the new Joint venture company.
Kindly request expert to please advise on the steps to be taken.
Thanking you.