Hi All,
Thank you so much for your valuable feedback.
Archana: I think it is performance linked bonus. hence the employee should have been with the company at the time of appraisal for this to get effective though it is part of the CTC. The company while giving the offer has informed them that it is performance bonus and can vary from 0-100%.
To my knowledge, I think the perforamance bonus is paid to an employee if he is on board at the time of disbursement of the same.
All the respected people, please confirm
From India, Hyderabad
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Thank you so much for your valuable feedback.
Archana: I think it is performance linked bonus. hence the employee should have been with the company at the time of appraisal for this to get effective though it is part of the CTC. The company while giving the offer has informed them that it is performance bonus and can vary from 0-100%.
To my knowledge, I think the perforamance bonus is paid to an employee if he is on board at the time of disbursement of the same.
All the respected people, please confirm
From India, Hyderabad
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Hi Srikar...
I understand that its a performance linked bonus, but my query is does this employee completed one year in the organisation?
Plz understand that if the person in question has completed one year of service and he has earned some bonus, (may not necessarily 100% and it can't be 0% also), then he/she is eligible for that bonus.
Performance linked bonus, which is a part of CTC is to be paid if the person has completed one year...no matter when the company distributes it.
Again it depends upon company to company.
Regards,
Archna
From India, Delhi
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119I understand that its a performance linked bonus, but my query is does this employee completed one year in the organisation?
Plz understand that if the person in question has completed one year of service and he has earned some bonus, (may not necessarily 100% and it can't be 0% also), then he/she is eligible for that bonus.
Performance linked bonus, which is a part of CTC is to be paid if the person has completed one year...no matter when the company distributes it.
Again it depends upon company to company.
Regards,
Archna
From India, Delhi
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Dear Friend
As it is shown in the CTC of the employee, and it is linked to the performance of the employee, company has to pay it.
Not necessary to pay during the full and final settlement, as and when the company review the budget and performance, during that time it can be paid.
Ex :- Mr A leaving the company on March and performance appraisal system is at May, it can be paid at may.
Hr@hrd
From India, Bangalore
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As it is shown in the CTC of the employee, and it is linked to the performance of the employee, company has to pay it.
Not necessary to pay during the full and final settlement, as and when the company review the budget and performance, during that time it can be paid.
Ex :- Mr A leaving the company on March and performance appraisal system is at May, it can be paid at may.
Hr@hrd
From India, Bangalore
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Dear Srikarbala
check whether the company policy that the performance bonus is payable to the employee who were in payroll on the time of disbursement only or elase if it is not defined
if it is defined like that then you can very well deny and also see that the Performance bonus is said to him during the time of appointment in the appointment letter that the salary bifercation is done on this basis of whatever agreed upon
i fnot you donot have to worry to pay, if tyes and agreed durng the appointment stage and putinto bifercation you may have to settle it
its your choice, unless the person sets into a legal notice
From India, Madras
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check whether the company policy that the performance bonus is payable to the employee who were in payroll on the time of disbursement only or elase if it is not defined
if it is defined like that then you can very well deny and also see that the Performance bonus is said to him during the time of appointment in the appointment letter that the salary bifercation is done on this basis of whatever agreed upon
i fnot you donot have to worry to pay, if tyes and agreed durng the appointment stage and putinto bifercation you may have to settle it
its your choice, unless the person sets into a legal notice
From India, Madras
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Hi All,
I am going through the same situation currently. I belong to a big Indian IT MNC. I have resigned a week after the completion of our appraisal cycle. I have worked a lot, and my managers (appraiser and reviewer) agree to this in my performance appraisal with their statements and points awarded. However, now I see my appraisal closed with the lowest ratings, which will definitely deny me my Performance Bonus. I wanted to know if I can take legal action against them. Can I take this to the Labour Commissioner?
I have been awarded Employee of the quarter twice, and I have all the proofs of appreciations for my good work. Please advise me.
Thanks & Regards,
SP
From India
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I am going through the same situation currently. I belong to a big Indian IT MNC. I have resigned a week after the completion of our appraisal cycle. I have worked a lot, and my managers (appraiser and reviewer) agree to this in my performance appraisal with their statements and points awarded. However, now I see my appraisal closed with the lowest ratings, which will definitely deny me my Performance Bonus. I wanted to know if I can take legal action against them. Can I take this to the Labour Commissioner?
I have been awarded Employee of the quarter twice, and I have all the proofs of appreciations for my good work. Please advise me.
Thanks & Regards,
SP
From India
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Hi, I have read the comments mentioned above.
My question is, does management have the right to deny a performance-linked bonus from the previous year? In my case, I left the organization in Sep '14, and my PLB for the previous year (April '13 to March '14) is pending. The management is denying payment, stating that I left prior to the declaration of appraisals. However, it was not mentioned in the terms of appointment that the bonus is payable only after appraisals.
Kindly suggest what I should do.
From India, Hyderabad
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My question is, does management have the right to deny a performance-linked bonus from the previous year? In my case, I left the organization in Sep '14, and my PLB for the previous year (April '13 to March '14) is pending. The management is denying payment, stating that I left prior to the declaration of appraisals. However, it was not mentioned in the terms of appointment that the bonus is payable only after appraisals.
Kindly suggest what I should do.
From India, Hyderabad
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Hi,
This is in reference to the variable pay which is a part of my CTC. The company's performance cycle is from April to March, and the payout is in July. As per the contractual agreement, I am eligible for a performance-linked bonus of 80% of my CTC and 20% based on the company's performance. I understand that the company's performance will only be established once the books close in March '19. I have been employed with the organization since 2008. I left the organization in mid-December '18.
My question is: Since I have been meeting expectations from April '18 to December '18, am I eligible for the bonus payout? If yes, what would be the approach? Please let me know if any additional details are required.
From India, New Delhi
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This is in reference to the variable pay which is a part of my CTC. The company's performance cycle is from April to March, and the payout is in July. As per the contractual agreement, I am eligible for a performance-linked bonus of 80% of my CTC and 20% based on the company's performance. I understand that the company's performance will only be established once the books close in March '19. I have been employed with the organization since 2008. I left the organization in mid-December '18.
My question is: Since I have been meeting expectations from April '18 to December '18, am I eligible for the bonus payout? If yes, what would be the approach? Please let me know if any additional details are required.
From India, New Delhi
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