arun (dy mgr sales) 29 January 2013

Annual bonus/ex gratia and target performance linked incenti

I joined on 21/10/2010.My basic salary is Rs 19,900 in the target cost to company Rs 6,74,754 which has been given to me by the company..In this CTC there is Rs 6,500 as Annual Bonus/Ex Gratia and Rs 74,754 as Target performance linked incentive.They gave me an intial probation period of 6 months and after that also continued me but did not give me the confirmation letter.I resigned with last date of 31/3/2012.After resignation ,they did not pay me either Rs 6,500 as Annual Bonus/Ex Gratia and Rs 74,754 as Target performance linked incentive.

Am I am legally entitled to claim these amounts?What is the recourse that I can take to get Rs 6,500 as Annual Bonus/Ex Gratia and Rs 74,754 as Target performance linked incentive.
(Company did not bother to record my KRAs and target achievement).

Please advise.

Regards,

Arun

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1 Replies

Kumar Doab (FIN) 29 January 2013

It shall be appropriate to look into the published policy on “Annual Bonus/Ex Gratia and Rs 74,754 as Target performance linked incentive” For the period you wish to stake your claim for and thus evaluate did you satisfy T&C. If you have satisfied the T&C you should be entitled.

Generically speaking the payouts stated by company in CTC sheet should be paid to employee.

Do you have your data on Tgt Vs Performance? If yes you may submit it to the good offices of your appointing authority, MD, Chairman, Company Secretary and demand payment. Based on the reply of the good offices you can proceed further.

Company should have explained your KRA’s in your appointment letter.

Before you adopt the legal recourse it shall be appropriate to study the letter of appointment, CTC sheet, printed policy document on Annual Bonus/Ex Gratia, target performance linked incentive and its T&C and your achievement, and reply of the compnay.