Hi there, I am working at a company and completed ~2 year. During my last appraisel, in dec 2021, company started to deducting security deposit of 2000/- rs and they said that this will be given upon completion of 1 year upon appraisel. i.e. it should be given in early January 2023 as a year completed in December.
But so far company has not credited anything. Each time ask, they say that it will given after a few days, and after paasing they say that it will be given with salary and sometimes they say that it will be given separate from salary. Thus, just seems like harassing me.
1. Please guide me what should I do now?
It is very desturbing. One of my collegue has got upon one year completion, but not me.
2. Company say that if someone quits in the middle of the year, let say with 6 months of deductions, they will not pay back security even someone give them proper notice period. Please help on this point as well.
Thanks.
From India, Chandigarh
But so far company has not credited anything. Each time ask, they say that it will given after a few days, and after paasing they say that it will be given with salary and sometimes they say that it will be given separate from salary. Thus, just seems like harassing me.
1. Please guide me what should I do now?
It is very desturbing. One of my collegue has got upon one year completion, but not me.
2. Company say that if someone quits in the middle of the year, let say with 6 months of deductions, they will not pay back security even someone give them proper notice period. Please help on this point as well.
Thanks.
From India, Chandigarh
Dear member,
What is happening with you is regrettable. The top leadership in a few companies does not understand that the promises are for honouring. If the promises are not fulfilled within a specified time limit, it impacts the motivation of the staff.
Anyway, I recommend you write the application to the head of the company which generally is the Managing Director (MD). Give a heading "Refund of the Deposit". In the first paragraph give details of your employment. In the second paragraph, write about the security deposit, when the deductions started and when it was completed and what amount the company owes to you.
In the third paragraph write about the dire need for money. For this concoct some reason but make sure that it should not appear too supercilious or fake. Write that to fulfil the obligation, you need money.
After submitting the application wait for 8-10 days and if nothing happens send a reminder and also ask for a personal interview. If still nothing happens, then come back to this forum again. Nevertheless, even if the problem is solved, come back and intimate what happened. This is because I have seen a good number of ungrateful members who take free advice and then forget the forum. Please don't join their bandwagon.
Thanks,
Dinesh Divekar
From India, Bangalore
7879What is happening with you is regrettable. The top leadership in a few companies does not understand that the promises are for honouring. If the promises are not fulfilled within a specified time limit, it impacts the motivation of the staff.
Anyway, I recommend you write the application to the head of the company which generally is the Managing Director (MD). Give a heading "Refund of the Deposit". In the first paragraph give details of your employment. In the second paragraph, write about the security deposit, when the deductions started and when it was completed and what amount the company owes to you.
In the third paragraph write about the dire need for money. For this concoct some reason but make sure that it should not appear too supercilious or fake. Write that to fulfil the obligation, you need money.
After submitting the application wait for 8-10 days and if nothing happens send a reminder and also ask for a personal interview. If still nothing happens, then come back to this forum again. Nevertheless, even if the problem is solved, come back and intimate what happened. This is because I have seen a good number of ungrateful members who take free advice and then forget the forum. Please don't join their bandwagon.
Thanks,
Dinesh Divekar
From India, Bangalore
Sure, I’ll convey an email to CEO. Previously I was conveying him through HR. And I’ll share the results here.
From India, Chandigarh
From India, Chandigarh
Hi,
As part of retention strategy some Companies follow the concept of Retention Bonus wherein as per Grade eligibility a fixed amount ( apart from salary) will be kept on hold and will keep accruing on monthly basis. Once employee completes stipulated time frame the amount will be released along with salary so as to encourage employees to continue for longer period.
In your case Rs.2000/- deducted from your salary which is not legal. You can represent to Management as suggested by Mr.Dinesh Divekar but make it more polite. At any cost they cannot hold the money which is part of salary for very longer period. In case of resignation the same should be paid along with Full and Final settlement as it is part of salary and not additional money as per grade entitlement.
From India, Madras
As part of retention strategy some Companies follow the concept of Retention Bonus wherein as per Grade eligibility a fixed amount ( apart from salary) will be kept on hold and will keep accruing on monthly basis. Once employee completes stipulated time frame the amount will be released along with salary so as to encourage employees to continue for longer period.
In your case Rs.2000/- deducted from your salary which is not legal. You can represent to Management as suggested by Mr.Dinesh Divekar but make it more polite. At any cost they cannot hold the money which is part of salary for very longer period. In case of resignation the same should be paid along with Full and Final settlement as it is part of salary and not additional money as per grade entitlement.
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.
Company Profile.ppt
MW-Jan-June'18- Security.pdf