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Sahil Dev Singh   04 May 2018

Bonus eligiblity

Hi, Please advise me about bonus eligibility, I have resigned from my current employer as on 30th April'18. In my appointment letter the appraisal period is April to March and also the financial year of the company. However, as per the appointment letter the appraisal would get effective from July month, In addition to this an employee should be effective as on 31st of march to be eligible for the Performance bonus which is already a CTC part. So my question is this, Am I eligible to receive my performance bonus for the last financial year as I already have earned it? and will clause of appraisal effective from July have any impact on my bonus in full and final settlement ?


Learning

 7 Replies

Kumar Doab (FIN)     04 May 2018

The appraisal in July is after completion of Financial year?

If you wish you may attach the policy..

Erase all names/logo/email id, address, pin codde, phone number etc before attaching...to maintain the confidentiality 

 

1 Like

Sahil Dev Singh   04 May 2018

Yes, Increment aplicable from April itself. However it is effective from July i.e incremented salary comes in the month of july with arrears of april & may with bonus amount of the last performance year.  Please guide,hgfdsa

 

Sahil Dev Singh   04 May 2018

Yes, Appraisal year is April to March. However the incremented salary is effective from July and employee gets the incremented salary with arrears of April and May, also in the of July they send the Bonus. Bonus they send actually is the part of CTC as variable part and is based on performance. It has clearly written upon the appointment letter that for Bonus eligibilty one should be active on 31st march and I have put the resignation a month after i.e on 30 April 2018.

Please guide.

I also wanted to attach the Word file but it was not getting attached.

Regards

 

Sahil Dev Singh   05 May 2018

Please clear and recommend me for the above query 

Regards

 

Kumar Doab (FIN)     05 May 2018

Impression from your posts;

Amounts inserted in CTC are promised amounts/payouts and are fruit of labor.. of employee!

Since you were effective (as posted by you and per appointment letter) you may demand payment and establishment may pay.

Kumar Doab (FIN)     05 May 2018

Rest the employer/or attorney’s of management in HR/Line Management/Legal cells may like to interpret in a manner suitable to them.

Has any written interpretation been passed on to you?

Has establishment narrated any Variable pay/performance pay policy also in appointment letter or say CTC or say corrigendum or say any subsequent communications or updated in any shared portals like HR portal {with clear dates(s) of updation(s)}?

Do you have the copy(ies) and also of appraisal and performance data as per KRA’s/Tgt?

If you are unable to attach show to your own very able senior LOCAL counsel of unshakable repute and integrity specializing in Labor/service matters and having successful track record ….. and worth his/her salt …and discuss in person and even with seasoned employee’s/trade union leaders and proceed in best of your interest.. 

Check for such counsels at LOCAL Labor Court/CGIT, Controlling Authority of Gratuity, School-Educational Tribunal, CAT, Civil Courts, HC,SC……..

 

If matter can be resolved with your own skills e.g; persistence, persuasion, reasoning, negotiations nothing like IT and even with help of elders of the family, competent and experienced well wishers/colleagues, community leaders, reputed person ………..

And/or Shrude and smart negotiators

And/or seasoned employee’s/trade union leaders

And/or officials in Dept. of Labor ( Inspector/ALC/ALCC/DLC……………..senior officials), Shops and Estbs Inspectorate etc

Or by skills of your own counsels

Nothing like IT

Or you may pray to LOCAL Labor Court/CGIT, Civil Courts as per coverage by nature of duties…and Presiding Officer can decide on facts and merits..


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