Hi Everyone,
I need your expert advice on the matter related to my bonus payment. I am employee of an IT company in BFSI domain. The annual cycle has been revised for the year 2014 from Jan to Dec (previously it was Apr-Mar).
Thus, the appraisal process, merit increments and bonus amount were adjusted to take into consideration the new annual cycle (Jan-Dec).
Now, I resigned the company on 16 March 2015. They have not given me bonus payment and not citing any reason for it. However, my offer letter states bonus pay as part of CTC (though on company's discretion). To add to my case, all my peers, who joined with me have got the bonus payment. We all got the same rating in appraisal process, same merit increase and there is nothing to differentiate me from my peers - except the fact that I had resigned on 16 March, which is 2 weeks before the bonus payment on 30-Mar-2015.
My question here is that the company annual cycle now stands Jan to Dec and I was employee as on 31st Dec 2014. I applied for resignation on 16 Mar and last working day is 16 June 2015. Still they have not given me bonus (which would be around 50K). My salary is around 50K+.
Please provide your inputs if I can fight for the bonus and challenge company's decision.
Thanks,
Rohan
From India, Madras
I need your expert advice on the matter related to my bonus payment. I am employee of an IT company in BFSI domain. The annual cycle has been revised for the year 2014 from Jan to Dec (previously it was Apr-Mar).
Thus, the appraisal process, merit increments and bonus amount were adjusted to take into consideration the new annual cycle (Jan-Dec).
Now, I resigned the company on 16 March 2015. They have not given me bonus payment and not citing any reason for it. However, my offer letter states bonus pay as part of CTC (though on company's discretion). To add to my case, all my peers, who joined with me have got the bonus payment. We all got the same rating in appraisal process, same merit increase and there is nothing to differentiate me from my peers - except the fact that I had resigned on 16 March, which is 2 weeks before the bonus payment on 30-Mar-2015.
My question here is that the company annual cycle now stands Jan to Dec and I was employee as on 31st Dec 2014. I applied for resignation on 16 Mar and last working day is 16 June 2015. Still they have not given me bonus (which would be around 50K). My salary is around 50K+.
Please provide your inputs if I can fight for the bonus and challenge company's decision.
Thanks,
Rohan
From India, Madras
Hi,
I have faced one situation like this. Variable pay year is Apr-to Mar (It will be announced in Jan and they did not announce anybody) and I supposed to get Variable pay with March Salary. But Company is delayed to pay (all most every company is doing delay that in India). It did not payed till May and I am supposed to get released in May and now company did not pay the Amount. What can I do here? All are shameless guys.
Regards,
Sreedhar
From India, Bangalore
I have faced one situation like this. Variable pay year is Apr-to Mar (It will be announced in Jan and they did not announce anybody) and I supposed to get Variable pay with March Salary. But Company is delayed to pay (all most every company is doing delay that in India). It did not payed till May and I am supposed to get released in May and now company did not pay the Amount. What can I do here? All are shameless guys.
Regards,
Sreedhar
From India, Bangalore
Hello Every One,
Can any one help me, I am also facing some variable pay issue as well.
I am working as a developer in my current company and the company deducted variable pay every month as they mention in my offer letter. They give me variable pay after when my one year completed. But in next year they told me they have policy they will deduct variable in next six and see the performance and all that. But the company client will move and company have no more project so they relieved me at the end of this month. But my three months variable pay they didn't give me they told its company policy they will only give it to me when i completed six months. But this time i will not give resign company will relieving me. Can anyone please help me what should i tell as a legal point so they will give me my variable pay.
Thanks & Regards,
Archi
From India, Pune
Can any one help me, I am also facing some variable pay issue as well.
I am working as a developer in my current company and the company deducted variable pay every month as they mention in my offer letter. They give me variable pay after when my one year completed. But in next year they told me they have policy they will deduct variable in next six and see the performance and all that. But the company client will move and company have no more project so they relieved me at the end of this month. But my three months variable pay they didn't give me they told its company policy they will only give it to me when i completed six months. But this time i will not give resign company will relieving me. Can anyone please help me what should i tell as a legal point so they will give me my variable pay.
Thanks & Regards,
Archi
From India, Pune
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VARIABLE PAY.doc
Variable DA on Minimum Wages as on 01-10-2017.pdf