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SSubramanian (Own Business)     11 November 2014

Bonus/relieving letter /directorship and experience letter

Dear Experts, 

I worked as GM of a Healthcare MNC from 2010. This is a pvt Ltd Company and 100% subsidiary of  US based company which was listed in NYSE, later on became Pvt in 2011. I was the first employee of the company in India and was one of the Directors of Board.

Working in the company for 4 years... I decided to quit ( Will explain the reasons as that too is one of the dispute) in December 2013 and have served full notice period of 3 Months.

Now the queries:

  1. The company settled by dues (9 days salary, Leave encashment etc)  except for Bonus for 2013 by end of March 2014. I was eligible for Bonus based on India as well as overall company performance globally. The Bonus was paid in April 2014, and was lower than the announced Bonus by global compensation department. ( Instead of 87% they paid 68%). The reason they gave me was the new management ( One who replaced me) has said he cant sell the devices sold to distributor and decided to reverse sales revenue and hence the Bonus is reduced.  Question is Can i Challenge this... As this decision was taken immedietely after I got relieved. No discussions happened on this during my 3 month notice period.
  2. The Company did not issue me relieving letter and experience letter despite repeated follow up. My last date with company was 7th March and I received relieving letter on 13th June. Because of this I lost 2 Job opportunity. Can i recover the salary for this period from the company. 
  3. As Mentioned, I was also one of the directors of company ( Myself Indian and 2 Foreign directors based out of Singapore and USA). I resigned from that post on December 9th 2013. The company came back to me asked me to revise the date to January 9, 2014 to accommodate ROC rules of filing within 30 days. However the company did not file it with ROC and continue to use my name with ROC until May 20th as the other 2 directors did not have DSC. Can i sue the company for misusing my name without my approval with ROC and claim damages? 

I have records for all the above by e-mails.

Kindly respond... 



Learning

 2 Replies

Kumar Doab (FIN)     11 November 2014

1. The policy/rules shouldn't not apply as by that time you had separated. 2.You can claim damages. However if the matter lands up in court of law then court shall decide based on merits and evidence. 3.The company should not have done it. You should consult a lawyer specializing in service matters and Company Law in person with all doc's on record....before you proceeds further.
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Adv k . mahesh (advocate)     12 November 2014

Instead of 87% they paid 68%)

do you have any document for the above bonus structure then consult the lawyer as you are eligible for the same and the rules may be framed after you left the organisation and you are not bound to it 

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