Hi, I am working as a software engineer in an IT company. Company offered me a CTC of Rs. 800000 per annum, in which 1 lakh is a retention bonus per annum.
And the retention bonus I will get after 2 years of completion.
I have completed my 2 years but employer denied me of giving my retention bonus because I have refined before 25 days before 2 years but still I am in notice period of 2 months and serving and going to complete 2 years and 1 month in a company. Is this case want to know my rights. Because in my offer letter no where it is mentioned that I will not get my retention bonus if I resigned before 2 years.
27th July 2019 From India, Bengaluru
Resignation becomes effective only on the actual date of relief of the employee after it's acceptance by the competent authority viz., the employer. It would imply that the notice period if any, actually served by the employee as per the notice covenant of the contract of employment should be definitely included in the total length of service rendered in the organization. The stand of the poster's employer is wrong, illegal and unethical too. He can sue the employer for breach of contract and claim damages through a Civil Suit.
27th July 2019 From India, Salem
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