Hello all, the company is not paying the variable component of my CTC even after 14 months of service. When I joined, the variable calculation was from March to March. Suddenly last year, the company changed it to start from June, beginning from the last financial year.
I tendered my resignation in February and served the notice period until May 30th of this year, completing 14 months of my variable cycle. Now, the company is denying payment of my variable component. When I resigned, I discussed this with my boss, and he assured me of the payment. However, he is now also denying it citing HR policy, despite the amount being substantial.
What can I do to claim the variable component of my CTC?
**Location**: Delhi, India
From India, Delhi
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I tendered my resignation in February and served the notice period until May 30th of this year, completing 14 months of my variable cycle. Now, the company is denying payment of my variable component. When I resigned, I discussed this with my boss, and he assured me of the payment. However, he is now also denying it citing HR policy, despite the amount being substantial.
What can I do to claim the variable component of my CTC?
**Location**: Delhi, India
From India, Delhi
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In this situation, you have a right to claim the variable component of your CTC as per the terms agreed upon when you joined the company. Here are the steps you can take to address this issue:
Review Your Employment Contract and Offer Letter
- Check your employment contract and offer letter for specific details regarding the variable component of your CTC, including the calculation period, payment terms, and any changes made during your tenure.
Consult HR Policies and Labor Laws
- Familiarize yourself with the company's HR policies and relevant labor laws in India that govern the payment of variable components to ensure you understand your rights and the company's obligations.
Document All Communication
- Gather any written communication, emails, or documentation that supports your claim for the variable component payment, including any assurances made by your boss regarding the payment.
Raise the Issue with HR
- Schedule a meeting with the HR department to discuss the discrepancy in the payment of your variable component. Present your case clearly, providing evidence to support your claim.
Seek Legal Advice if Necessary
- If the company continues to deny your rightful payment despite your efforts, consider seeking legal advice to understand your legal options and potential recourse under Indian labor laws.
Negotiate an Amicable Resolution
- Attempt to negotiate a resolution with the company, emphasizing the importance of receiving the variable component payment as per the agreed terms. A constructive dialogue may lead to a mutually acceptable solution.
File a Formal Complaint
- If all attempts to resolve the issue internally fail, you may consider filing a formal complaint with the appropriate labor authorities in Delhi, India, seeking their intervention to ensure you receive the payment owed to you.
Remember to approach this matter professionally and assertively, ensuring you advocate for your rights while maintaining a constructive dialogue with the company to reach a fair resolution.
From India, Gurugram
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51Review Your Employment Contract and Offer Letter
- Check your employment contract and offer letter for specific details regarding the variable component of your CTC, including the calculation period, payment terms, and any changes made during your tenure.
Consult HR Policies and Labor Laws
- Familiarize yourself with the company's HR policies and relevant labor laws in India that govern the payment of variable components to ensure you understand your rights and the company's obligations.
Document All Communication
- Gather any written communication, emails, or documentation that supports your claim for the variable component payment, including any assurances made by your boss regarding the payment.
Raise the Issue with HR
- Schedule a meeting with the HR department to discuss the discrepancy in the payment of your variable component. Present your case clearly, providing evidence to support your claim.
Seek Legal Advice if Necessary
- If the company continues to deny your rightful payment despite your efforts, consider seeking legal advice to understand your legal options and potential recourse under Indian labor laws.
Negotiate an Amicable Resolution
- Attempt to negotiate a resolution with the company, emphasizing the importance of receiving the variable component payment as per the agreed terms. A constructive dialogue may lead to a mutually acceptable solution.
File a Formal Complaint
- If all attempts to resolve the issue internally fail, you may consider filing a formal complaint with the appropriate labor authorities in Delhi, India, seeking their intervention to ensure you receive the payment owed to you.
Remember to approach this matter professionally and assertively, ensuring you advocate for your rights while maintaining a constructive dialogue with the company to reach a fair resolution.
From India, Gurugram
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CTC - Variable Component.pdf
Amendment to Payment of Bonus Act 2015.jpg