I'm working at a company for over 2 years. After a year, they introduced a system to deducting security deposit which has to be give after a year from it begins.
I got one when I completed one year after the deduction started (but not easily, that time CiteHRʼ community helped me get that)
After that, I stayed at company for 6 months and then resigned with more notice period than agreed to avoid any of their argument that I'm not served well.
But now HR is saying that I will not be getting that security deduction money as I am leaving before a year, since deduction started.
So, now again I need CiteHR's help to solve this issue.
Please let me know what should I do now?
From India, Chandigarh
I got one when I completed one year after the deduction started (but not easily, that time CiteHRʼ community helped me get that)
After that, I stayed at company for 6 months and then resigned with more notice period than agreed to avoid any of their argument that I'm not served well.
But now HR is saying that I will not be getting that security deduction money as I am leaving before a year, since deduction started.
So, now again I need CiteHR's help to solve this issue.
Please let me know what should I do now?
From India, Chandigarh
Hi,
It is not very clear what you mean by security deposit.
Are you referring to Retention Bonus which will be normally as per Grade entitlement apart from salary.
If a part of your salary is deducted as security deposit and if not paid back based on your resignation before completing 2nd year then it is not ethical and against law. You can fight for your money as it is your salary.
However if it is Retention Bonus which is out of salary then it is at the discretion of the Employer and you cannot claim it as a matter of right.
From India, Madras
943It is not very clear what you mean by security deposit.
Are you referring to Retention Bonus which will be normally as per Grade entitlement apart from salary.
If a part of your salary is deducted as security deposit and if not paid back based on your resignation before completing 2nd year then it is not ethical and against law. You can fight for your money as it is your salary.
However if it is Retention Bonus which is out of salary then it is at the discretion of the Employer and you cannot claim it as a matter of right.
From India, Madras
When my salary is below, 20k. They won't take any deduction. When it become more than that, they say that they will cut ₹2000/- amount each month which will be given on year end.
In my agreement, they wrote my salary ₹30000/-. They are deducting from that amount, so what I get is ₹27,800/- (₹200/- just service tax, you can ignore that).
Can this be considered as Retention Bonus? Please let me know more about it.
From India, Chandigarh
In my agreement, they wrote my salary ₹30000/-. They are deducting from that amount, so what I get is ₹27,800/- (₹200/- just service tax, you can ignore that).
Can this be considered as Retention Bonus? Please let me know more about it.
From India, Chandigarh
Hi Rs.30,000/- is your ctc or gross salary? Please check the agreement signed by you. Looks like illegal deduction only.
From India, Madras
From India, Madras
"You are entitled to a revised gross remuneration of Rs. 30,000 per month." This is the exact text from the agreement.
From India, Chandigarh
From India, Chandigarh
There's no mention of bonus in the agreement. They olny told on a call that this amount will be deducted. They only mentioned that this will be given after year. But no mention that if I leave before year, they will not giving it.
From India, Chandigarh
From India, Chandigarh
Hi
I hope they gave monthly payslips and you are keeping it. You can make a request in writing and ask for written statement that they will not be able give you. If they deny inform them that you don't have any other except to approach Labour office for justice.
But all the same keep it in mind this will have impact during future BGV and they might not issue proper relieving letter. Just a caution.
From India, Madras
I hope they gave monthly payslips and you are keeping it. You can make a request in writing and ask for written statement that they will not be able give you. If they deny inform them that you don't have any other except to approach Labour office for justice.
But all the same keep it in mind this will have impact during future BGV and they might not issue proper relieving letter. Just a caution.
From India, Madras
They are not giving any pay slips. But yes, I have bank statement. Will it work?
"You can make a request in writing and ask for written statement that they will not be able give you".
Pardon me, I didn't get your this point. Could you please elaborate more.
For BGV, I've done nothing wrong during my tenure and I did my job with full dedication till last day. Helped company sustain its projects which were not stable. Can they lie about me in the BGV? If yes, I think It can be tackled legally, as they will be giving misinformation to harm(if happens). Your thoughts?
And if they block reliving letter due to this, can it be challenged legally?
From India, Chandigarh
"You can make a request in writing and ask for written statement that they will not be able give you".
Pardon me, I didn't get your this point. Could you please elaborate more.
For BGV, I've done nothing wrong during my tenure and I did my job with full dedication till last day. Helped company sustain its projects which were not stable. Can they lie about me in the BGV? If yes, I think It can be tackled legally, as they will be giving misinformation to harm(if happens). Your thoughts?
And if they block reliving letter due to this, can it be challenged legally?
From India, Chandigarh
Hi I meant you ask your employer to give you in writting that they will not be able to release amount deducted from salary. Got it? BGV comments is at employer discretion.
From India, Madras
From India, Madras
Community Support and Knowledge-base on business, career and organisational prospects and issues - Register and Log In to CiteHR and post your query, download formats and be part of a fostered community of professionals.
Security Deposit.pdf