I am presently working with an NBFC. I joined this company on September 2, 2013. I tendered my resignation on April 17, 2015 and will be serving a notice period of 90 days. In my package, I have a portion of package as variable incentive of Rs. 120,000/-. I served the whole financial year 2014-15 on company rolls and had resigned only after completion of full year. However, my company is denying to pay my Incentive by saying that I am a resigned employee and I will not get any incentive due to that.
Conditions mentioned in my offer letter for Incentive is as below:
Incentive is payable for the period April to March. Those who join during the financial year (i.e. April to December), incentive is paid on Pro Rata Basis. The criteria for payment of incentive will be communicated to you on joining.
Incentive will be paid on annual basis. The payment of such incentive will be with in 90 days of the end of the year. Incentive/ Variable pay for a financial year (i.e. April - March) is payable only to employees who:
* Join the company on or before December 31st of that financial year
* are on the rolls of the company as on date of payment of incentive
Employees who have joined after December 31st or who have submitted their resignation and are waiting to be relieved will not be eligible for incentive.
The offer letter is signed by Vice President -HR and myself.
Request your help and guidance to get my incentive from company.
Further more, why companies are drafting this kind of policies which affects employees at large. Is it possible to take any legal actions against comapny?