No Tags Found!


madas-karthik
Hello everyone, This is with reference to the Payout of Performance bonus. As per Companies policy, a performance bonus will be paid to the employers who are on roll as on 30th June. As I have resigned from the organization on 11th April as my last working day including a notice period of 3 months, Company says that the bonus part will not be considered in the F&F settlement as per policy.
As the bonus amounts to 25% of my salary (Almost 3 months of salary), is there any way out in this case as the entire financial period has been completely served by me to the organization. Looking forward for your suggestions at the earliest possible.

From India, New Delhi
kumaracme
421

Dear Member
Non payment of Statutory bonus of 8.33% or 20% only can be disputed before labour court, if your employer fails to pay what are legally due to you, But as for as performance Bonus is concerned, it is governed by your employing company policies. The non payment of performance bonus cannot be claimed in any court as the employer can very well say we have certain conditions to fulfill which the employee failed to comply with and hence we denied this bonus.
You need to plan your resignation which would be beneficial to you and as per your employer satisfaction of conditions by which you can be paid your performance bonus.

From India, New Delhi
PRABHAT RANJAN MOHANTY
582

The performance bonus is totally different from the annual bonus paid to employee. At present juncture it would be good for you to take a smooth exit from the company.

The company will bound to pay proportionate amount as performance bonus if it is a part of your CTC and well documented in your offer/appointment letter. Further, as per your posting company informed you that they can not consider the same in the F&F settlement as per policy but not denied.

As per your Companies policy, a performance bonus will be paid only to the employee who are on roll as on 30th June. In your case, you have already resigned from the organization which make you fail for the compliance of the norm. In the instant case you have to wait till performance bonus due for payment/ or paid to all others in roll. You can send a request letter to your employer if not paid.

From India, Mumbai
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.





Contact Us Privacy Policy Disclaimer Terms Of Service

All rights reserved @ 2024 CiteHR

All Copyright And Trademarks in Posts Held By Respective Owners.