Saswatabanerjee
Partner - Risk Management
Rajesh K Sharma
Personnel Functions
+1 Other

Thread Started by #yes2002yes2000@yahoo.co.in

I joined on 21/10/2010.My basic salary is Rs 19,900 in the target cost to company Rs 6,74,754 which has been given to me by the company..In this CTC there is Rs 6,500 as Annual Bonus/Ex Gratia and Rs 74,754 as Target performance linked incentive.They gave me an intial probation period of 6 months and after that also continued me but did not give me the confirmation letter.I resigned with last date of 31/3/2012.After resignation ,they did not pay me either Rs 6,500 as Annual Bonus/Ex Gratia and Rs 74,754 as Target performance linked incentive.
Am I am legally entitled to claim these amounts?What is the recourse that I can take to get Rs 6,500 as Annual Bonus/Ex Gratia and Rs 74,754 as Target performance linked incentive.
(Company did not bother to record my KRAs and target achievement).
Please advise.
Regards,
Arun
29th January 2013 From India, Mumbai
Ctc is a document designed to fool the employees
It is a working of how much it costs the company to employ you and not what you are getting
It will include all costs it may possibly incurr
The document has no value legally
You can not take any action at all on behalf of the ctc working.
I assume you are still working at the company
In that case, you need to go hr or to your manager and tell him about your problem. Specify that this is what was promised to you and the fact you re not getting it is insoite of your good performance (kra and targets not set) and to work out how you can get it.
If it does not give the result you want, then well, you need to accept that your salary will be lower or look for another job.
30th January 2013 From India, Mumbai
The concept of ctc came in only as a tool to show more than what is given

For many years, the salary was tales in terms of gross pay, take home pay and perquisites (including lta) which were defined and known.

These are amounts given to the employee,

But the ctc includes a lot of things that have little direct relevance to the employee.

Eg. Cost of car, driver and fuel is out by many companies in ctc

Training cost is another segment. The employee gets little direct benefit except if he is going to change his job. But these are put into ctc.

Tell me, for example, what benefit to the employee does gratuity have in the ctc ? He is going to get it only if he leaves after 5 years. It's a statutory amount the company has to pay then. Fortunately most people don't understand the ctc and HR and the company management takes advantage.

But we digress from the topic the original poster put.

Perhaps we can put this as a separate thread and argue it there.

I am sure many of us will have different insights in it


30th January 2013 From India, Mumbai
Dear All As Per Bonus Act, the basic Salary more than 10000.00 will be exempted for the Bouns. This is the catch in the situation.
31st January 2013 From India, Pilani
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