Hello All,
In my company we get Statutory Bonus(performance bonus) 2 times in a year October and April. My service will be completed on April. So wanted to know am i eligible for the bonus for the term (October 2016 to April 2017)? This bonus is a part of my CTC. But my HR manger is denying to pay me the bonus as i have resigned from the company and he is not allowing to give the bonus to the employee who are on the notice period.
If i am eligible, what statement or action can i take to get my bonus? Please everyone help me with this problem.
Below contract was singed by my company:
We inform you that the payment made towards the performance Bonus/Incentive each year in reference to the Variable Performance Bonus mentioned on your employment contract is calculated considering the minimum limits as indicated under the Payment of Bonus Act -1965(i.e Statutory Bonus).
Payment made under the variable Performance Bonus scheme will be in lieu of the statutory bonus payment under the Payment of Bonus Act 1965. The company will pay the employee the statutory bonus under the Payment of bonus 1965 or the Variable Performance Bonus,whichever is higher.
From India, Pune
In my company we get Statutory Bonus(performance bonus) 2 times in a year October and April. My service will be completed on April. So wanted to know am i eligible for the bonus for the term (October 2016 to April 2017)? This bonus is a part of my CTC. But my HR manger is denying to pay me the bonus as i have resigned from the company and he is not allowing to give the bonus to the employee who are on the notice period.
If i am eligible, what statement or action can i take to get my bonus? Please everyone help me with this problem.
Below contract was singed by my company:
We inform you that the payment made towards the performance Bonus/Incentive each year in reference to the Variable Performance Bonus mentioned on your employment contract is calculated considering the minimum limits as indicated under the Payment of Bonus Act -1965(i.e Statutory Bonus).
Payment made under the variable Performance Bonus scheme will be in lieu of the statutory bonus payment under the Payment of Bonus Act 1965. The company will pay the employee the statutory bonus under the Payment of bonus 1965 or the Variable Performance Bonus,whichever is higher.
From India, Pune
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.
BONUS CALCULATION FOR W.B.Govt employee for 2010-2011.xls
59-Employee-Eng agement-Ideas-Y ou-Need-to-Know -About-Bonus.pd f
Amendment to Payment of Bonus Act 2015.jpg