Hi Everyone,
I need your expert advice on the matter related to my bonus payment. I am an employee of an IT company in the BFSI domain. The annual cycle has been revised for the year 2014 from January to December (previously it was April to March).
Thus, the appraisal process, merit increments, and bonus amount were adjusted to take into consideration the new annual cycle (Jan-Dec).
Now, I resigned from the company on 16 March 2015. They have not given me the bonus payment and are not citing any reason for it. However, my offer letter states bonus pay as part of CTC (though at the company's discretion). To add to my case, all my peers who joined with me have received the bonus payment. We all received the same rating in the appraisal process, the same merit increase, and there is nothing to differentiate me from my peers - except the fact that I resigned on 16 March, two weeks before the bonus payment on 30 March 2015.
My question here is that the company's annual cycle now runs from January to December, and I was an employee as of 31st December 2014. I applied for resignation on 16 March, and my last working day is 16 June 2015. Still, they have not given me the bonus (which would be around 50K). My salary is around 50K+.
Please provide your inputs on whether I can fight for the bonus and challenge the company's decision.
Thanks,
Rohan
From India, Madras
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I need your expert advice on the matter related to my bonus payment. I am an employee of an IT company in the BFSI domain. The annual cycle has been revised for the year 2014 from January to December (previously it was April to March).
Thus, the appraisal process, merit increments, and bonus amount were adjusted to take into consideration the new annual cycle (Jan-Dec).
Now, I resigned from the company on 16 March 2015. They have not given me the bonus payment and are not citing any reason for it. However, my offer letter states bonus pay as part of CTC (though at the company's discretion). To add to my case, all my peers who joined with me have received the bonus payment. We all received the same rating in the appraisal process, the same merit increase, and there is nothing to differentiate me from my peers - except the fact that I resigned on 16 March, two weeks before the bonus payment on 30 March 2015.
My question here is that the company's annual cycle now runs from January to December, and I was an employee as of 31st December 2014. I applied for resignation on 16 March, and my last working day is 16 June 2015. Still, they have not given me the bonus (which would be around 50K). My salary is around 50K+.
Please provide your inputs on whether I can fight for the bonus and challenge the company's decision.
Thanks,
Rohan
From India, Madras
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Hi,
I have faced a situation like this before. The variable pay year runs from April to March (it is usually announced in January, but they did not make any announcements this time). I was supposed to receive my variable pay along with the March salary. However, the company has delayed the payment (almost every company in India is experiencing delays). It has not been paid out until May, and I was supposed to be released in May, but the company has not paid the amount. What can I do in this situation? It's frustrating dealing with such irresponsible individuals.
Regards,
Sreedhar
From India, Bangalore
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I have faced a situation like this before. The variable pay year runs from April to March (it is usually announced in January, but they did not make any announcements this time). I was supposed to receive my variable pay along with the March salary. However, the company has delayed the payment (almost every company in India is experiencing delays). It has not been paid out until May, and I was supposed to be released in May, but the company has not paid the amount. What can I do in this situation? It's frustrating dealing with such irresponsible individuals.
Regards,
Sreedhar
From India, Bangalore
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Hello Everyone,
Can anyone help me? I am also facing some variable pay issues as well. I am working as a developer in my current company, and the company deducts variable pay every month as mentioned in my offer letter. They give me variable pay after one year is completed. However, in the next year, they informed me that there is a policy change where they will deduct the variable pay in the next six months to evaluate performance and other factors. Unfortunately, due to the company's client moving and the lack of projects, they are relieving me at the end of this month. They have not given me my three months' variable pay, stating that according to the company policy, they will only provide it after six months. I am not resigning this time; the company is relieving me. Can anyone please advise me on what I should do from a legal standpoint to ensure I receive my variable pay?
Thanks & Regards,
Archi
From India, Pune
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Can anyone help me? I am also facing some variable pay issues as well. I am working as a developer in my current company, and the company deducts variable pay every month as mentioned in my offer letter. They give me variable pay after one year is completed. However, in the next year, they informed me that there is a policy change where they will deduct the variable pay in the next six months to evaluate performance and other factors. Unfortunately, due to the company's client moving and the lack of projects, they are relieving me at the end of this month. They have not given me my three months' variable pay, stating that according to the company policy, they will only provide it after six months. I am not resigning this time; the company is relieving me. Can anyone please advise me on what I should do from a legal standpoint to ensure I receive my variable pay?
Thanks & Regards,
Archi
From India, Pune
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