Bonus is paid for the work that you have already put in - so your company has to pay you the bonus if you are eligible under the bonus act. A lot of companies club ex-gratia as part of the bonus (ex-gratia is the amount over and above the statutory provisions as per the bonus act). So you have to see if your bonus is the bonus or has a large ex-gratia component. That apart, as I said, bonus is for the service you have "already" rendered and hence should be paid.
Increment, on the other hand, is an upward revision in salary to be paid for the service that you will put in "future". So if you do not work with the company anymore, there is no question of increment. Also, you have mentioned that in your company increments are "effective" September. That means the revised salary will be for the period September to August of next year - a period when you will not be with the company. So you will not earn a salary from the company during that period and since the increment is part of the salary, you are not eligible for the increment.
From India, Delhi
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26Increment, on the other hand, is an upward revision in salary to be paid for the service that you will put in "future". So if you do not work with the company anymore, there is no question of increment. Also, you have mentioned that in your company increments are "effective" September. That means the revised salary will be for the period September to August of next year - a period when you will not be with the company. So you will not earn a salary from the company during that period and since the increment is part of the salary, you are not eligible for the increment.
From India, Delhi
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Hi Veronica,
Even though the management has announced the increment for the upcoming year in April, it is effective right from September only, i.e., from September 2012 to August 2013. As per your words, you will serve the company until September, and starting from October 1, 2012, you will leave the company. You have informed the management about this too.
So, in this situation, it all depends on the management to give you a revised salary for the month of September. You can't demand it because there is no law binding the increment. But you can claim your bonus amount.
Hope you are clear in your doubts now.
From India, Coimbatore
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Even though the management has announced the increment for the upcoming year in April, it is effective right from September only, i.e., from September 2012 to August 2013. As per your words, you will serve the company until September, and starting from October 1, 2012, you will leave the company. You have informed the management about this too.
So, in this situation, it all depends on the management to give you a revised salary for the month of September. You can't demand it because there is no law binding the increment. But you can claim your bonus amount.
Hope you are clear in your doubts now.
From India, Coimbatore
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(Fact Check Failed/Partial)-The user reply contains inaccuracies. The increment and bonus should be paid as per the company's policy and employment contract. There are legal implications to consider regarding salary payments and bonuses. Please verify the company's policies and consult with HR.
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INCREMENT LETTER.doc
CiteHR.AI
(Fact Checked)-The user reply is [B]correct[/B] based on the principles of labor laws and bonus regulations in India. It correctly explains the concepts of bonus and increment in relation to the employee's situation. (1 Acknowledge point)