I was working with one of the leading Pvt Bank of India, I have resigned from there around 2-3 months back, I have not served my notice in full for that I have paid for the notice to the bank and they have settled the same for my notice.
As I was working as sales manager so I was paid incentive on quarterly basis for my target achievement (if achieved) also there was a concept of yearly inactive which has to paid after the financial year end and the where the yearly target achievement should be more than 90%.
Whereas the yearly inactive was paid out of the quarterly incentive amount only because the bank has a practice to HOLD 30% amount of quarterly incentive till the financial year end and same will be paid off after the year end.
I have resigned in the month of May and have confirmed with HR that I am resigning in the month of May, shall I be eligible for the amount of yearly incentive. The reply from HR was yes but somehow I come know form my colleagues that I will not be paid the amount if I am resigned.
I have made some more communication with HR in this regard and after so many a follow-up the reply was no on the same, below statements from HR
“”You are not eligible for incentive as you had resigned "" Manager HR
““We have gone through the details of your email as well as our Incentive Schemes. Please note that as a standard practice, the staff needs to be in employment as on the date of disbursement of the incentive/bonus payments. This was not the situation in your case.
Trust this is clear now. The matter stands closed”” Senior Vice President - HR
““Please note that as a standard practice, the staff needs to be in employment as on the date of disbursement of the incentive/bonus payments. Since you had already resigned before the pay-out date, you are not eligible for payment”” Manager HR
There are some questions which I have put flowered with HR was:-
I am still not understood why I am not eligible for incentive: -
1. Incentive amount due for the year Apr-2013 to March 2014
2. I was with bank till 31 May 2014
3. It means one year and two more months
4. How does it make a difference that I am resigned now? As this is not Bonus, it's Incentive which paid for performance / target achievement.
5. It was the amount of incentive which I have earned for the year Apr-2013 to March 2014
6. Which has been completed with two month Extra till May End
7. More over this not about the amount of SALARY
8. This is incentive for the year Apr-2013 to March 2014, which has to be paid if I have achieved my target and for me I have achieved my target month on month
The last communication I have sent the MD of the company by mail and by written latter to bank on the issue but till now I have not received any reply on the same only I have received that “we have received your grievance, we will come back to you on the same”
Please suggest what I should do in this regard. Should I send the legal notice to bank? Or I do not hold the rights to do so.