Difficulty in getting my bonus.

ritika (Querist) 27 December 2013 This query is : Resolved
Hi..!! I joined an investment company. It was clearly stated in my offer letter that on completion of one year i will get my bonus..which was part of my salary only...
I completed a year on 5-nov-2013 and I left the company on 20-11-2013. I was told that i am entitled to the bonus since i have completed a year. I was continuously following up with the HR. For a month, they were like it will be released in a day or so. But suddenly the HR is saying that they have hold the payment because it has been decided that I am not entitled to bonus since I resigned. Please tell me how to move forward in this matter.

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V R SHROFF (Expert) 27 December 2013
PAYMENT OF BONUS ACT APPLY.

CALCULATED AS PER NO. OF DAYS WORKED IN A FIXED FINANCIAL YEAR 1-4-12 TO 31-3-13 + SO

ritika (Querist) 27 December 2013
Sir Actually my offer letter states that;
The total compensation for the year would be 6 lakhs p.a.
4.8 lakhs would be the salary in hand and 1.2 is a gauranteed bonus which i will get on completion of one year. pls advise

SHIRISH PAWAR, 7738990900 (Expert) 27 December 2013
Since you have resigned they will not release bonus easily you need to take legal action through advocate.

Rajendra K Goyal (Expert) 27 December 2013
It seems they are not interested in releasing the bonus. send legal notice.

T. Kalaiselvan, Advocate (Expert) 27 December 2013
You may follow the advise of experts above on the subject.

malipeddi jaggarao (Expert) 28 December 2013
Bonus will be declared out of profits. YOu will have to wait till their final accounts for the financial year 2013-14.

V R SHROFF (Expert) 28 December 2013
25% bonus cannot be legal liability.
nor as per Payment of Bonus Act.

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