Dear Madam / Sirs,
following is my question;
i worked with the private limited company in accounts department, in 2nd year of my service management have increased my notice period from 1 month to 2 & later it has been increased to 3 months. i want to ask you that is there any base on which notice period is computed & how i can deal with this.
apart from this company has incorporated retention bonus in my salary, which is going to remitted after completion of the financial year.
i want to know that, how much legal this all is & is there any basis of deciding notice period & against that what i should expect from company in return, if i accept the same.
please do the needful & guide me further.
From India, Pune
following is my question;
i worked with the private limited company in accounts department, in 2nd year of my service management have increased my notice period from 1 month to 2 & later it has been increased to 3 months. i want to ask you that is there any base on which notice period is computed & how i can deal with this.
apart from this company has incorporated retention bonus in my salary, which is going to remitted after completion of the financial year.
i want to know that, how much legal this all is & is there any basis of deciding notice period & against that what i should expect from company in return, if i accept the same.
please do the needful & guide me further.
From India, Pune
Dear Aditya,
The Notice Period is decided keeping in mind the nature of the job the person is doing an also the seniority of the person. If the company is also giving you 3 months notice or pay when they terminate or ask you to leave then they asking you 3 months notice or pay in lieu of is absolutely legal.
Secondly there is no issues with company putting in retention bonus. This is to ensure that the employees do not leave the organisation abruptly. This is also paid only if the person is on rolls when the retention bonus is paid out, which again is legal.
These are clauses made to ensure that the employees simple do not abscond, without the proper procedure is followed.
Regards,
Ashutosh Thakre
From India, Mumbai
273The Notice Period is decided keeping in mind the nature of the job the person is doing an also the seniority of the person. If the company is also giving you 3 months notice or pay when they terminate or ask you to leave then they asking you 3 months notice or pay in lieu of is absolutely legal.
Secondly there is no issues with company putting in retention bonus. This is to ensure that the employees do not leave the organisation abruptly. This is also paid only if the person is on rolls when the retention bonus is paid out, which again is legal.
These are clauses made to ensure that the employees simple do not abscond, without the proper procedure is followed.
Regards,
Ashutosh Thakre
From India, Mumbai
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