Joining bonus

Guest (Querist) 03 October 2023 This query is : Resolved
Hi,

I have been let go after serving the company for 5 months, they said, either you can leave today or you can serve 1 month of performance improvement period of 1 month that is till end of october.
While joining, there was 2 lacs of Joining Bonus and in the appointment letter following is mentioned : -

* Joining bonus will be paid out with the first month’s salary. If the employee leaves the organization within a year
from
the date of joining or the employment is terminated for any reason, they will be liable to repay the entire amount of
joining bonus.

What will happen if I am unable to pay because of financial constraint legally

Follow Query

Report Abuse

kavksatyanarayana (Expert) 03 October 2023
They will not relieve you.

T. Kalaiselvan, Advocate Online

(Expert) 04 October 2023
If you are not ready and willing to repay the bonus given to you at the time joining the job and leave the organisation within one year of appointment, then as per the clause mentioned by you, the company will initiate recovery suit to recover the amount from you through court of law.

Previous

Next

You need to be the querist or approved LAWyersclub expert to take part in this query .

Click here to login now

Similar Resolved Queries :

Ask Query
Unanswered Queries