I have resigned from the service of my current organization in the month of February but am serving the notice period. I shall be relieved in the month of May, and the company has declared a bonus for the last FY 2010-2011. Since I have worked with the company for the whole financial year, should I not be eligible for the bonus? Will my performance not be appraised? I want you all to shed light on this.
Regards
From India, Patna
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Regards
From India, Patna
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You are eligible for a bonus for the days worked irrespective of the notice period, but the increment part may be difficult. Since you have already submitted your resignation in the month of February, your case may not be considered for the performance appraisal.
Thanks and regards,
Kamesh
From India, Hyderabad
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32Thanks and regards,
Kamesh
From India, Hyderabad
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Hi, the company's FY accounting year runs from April to March, and the company has also paid a bonus to each employee along with April's salary. However, in my case, the company has only credited the normal salary.
As far as I know, according to the Bonus Act, an employee with a salary of less than Rs. 10,000 per month is eligible for a bonus if they have worked for more than 30 days in the financial year. But my salary is Rs. 45,000.
Could you please guide me regarding my eligibility? If they have not paid it now, is there any possibility of receiving it later?
From India, Patna
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As far as I know, according to the Bonus Act, an employee with a salary of less than Rs. 10,000 per month is eligible for a bonus if they have worked for more than 30 days in the financial year. But my salary is Rs. 45,000.
Could you please guide me regarding my eligibility? If they have not paid it now, is there any possibility of receiving it later?
From India, Patna
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Since your salary is above $10,000 per month, you are not eligible for a bonus. Your company has been paying ex-gratia. Since that is at the discretion of the company, it's their choice whether to pay. You have no right to demand it. Since you are leaving, they see no benefit in paying that to you.
You can always go and ask HR for it. If your relationship with the company has been good, they may pay it. But remember that it's not your right unless it was a part of your declared package and the terms of your employment provide for it even in the case of termination or resignation.
From India, Mumbai
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You can always go and ask HR for it. If your relationship with the company has been good, they may pay it. But remember that it's not your right unless it was a part of your declared package and the terms of your employment provide for it even in the case of termination or resignation.
From India, Mumbai
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