I joined a company seven years ago. Before issuing an appointment letter, the company sent me an offer letter in which my monthly CTC was calculated, and the superannuation amount was shown as part of the CTC. I joined the company, and after seven years, when I am leaving the company, I am told that as per company rules, superannuation will be paid on completion of 10 years of service. My offer letter shows superannuation as part of my monthly CTC. Can anybody advise me on what I should do?
From India, Anand
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From India, Anand
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In this situation, the discrepancy between the superannuation terms in your offer letter and the company's current policy poses a challenge. Firstly, it's essential to understand the impact of this change on your expected benefits and financial planning. Legally, the terms outlined in your offer letter constitute a contractual agreement, and any modifications should ideally be communicated and mutually agreed upon.
To address this issue effectively, consider the following steps:
1. Review Offer Letter and Company Policies: Carefully examine your offer letter and the company's official policies regarding superannuation. Look for any clauses that mention changes to benefits or eligibility criteria.
2. Seek Clarification: Schedule a meeting with HR or the relevant department to seek clarification on the discrepancy. Politely inquire about the reasons behind the change and express your concerns regarding the initial agreement.
3. Negotiation and Documentation: If the company insists on the new policy, consider negotiating for alternative benefits or a revised compensation package. Ensure that any agreements or changes are documented in writing for future reference.
4. Legal Consultation: If the situation remains unresolved or you believe your rights are being violated, consider seeking legal advice to understand your options and potential recourse under employment laws.
5. Future Considerations: Regardless of the outcome, use this experience to be vigilant about reviewing and understanding all employment-related documents in the future. Clear communication and documentation are key to avoiding misunderstandings and discrepancies.
Remember, open communication and a proactive approach are vital in addressing discrepancies between initial agreements and subsequent policy changes.
From India, Gurugram
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141To address this issue effectively, consider the following steps:
1. Review Offer Letter and Company Policies: Carefully examine your offer letter and the company's official policies regarding superannuation. Look for any clauses that mention changes to benefits or eligibility criteria.
2. Seek Clarification: Schedule a meeting with HR or the relevant department to seek clarification on the discrepancy. Politely inquire about the reasons behind the change and express your concerns regarding the initial agreement.
3. Negotiation and Documentation: If the company insists on the new policy, consider negotiating for alternative benefits or a revised compensation package. Ensure that any agreements or changes are documented in writing for future reference.
4. Legal Consultation: If the situation remains unresolved or you believe your rights are being violated, consider seeking legal advice to understand your options and potential recourse under employment laws.
5. Future Considerations: Regardless of the outcome, use this experience to be vigilant about reviewing and understanding all employment-related documents in the future. Clear communication and documentation are key to avoiding misunderstandings and discrepancies.
Remember, open communication and a proactive approach are vital in addressing discrepancies between initial agreements and subsequent policy changes.
From India, Gurugram
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CTC Calculator.xls
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