Corporate Bonus Deduction Issue
Corporate bonus is part of my CTC, which is paid quarterly. I received a corporate bonus for the period of 1st October 2021 to 31st December 2021 in the month of January 2022 salary.
I resigned on the 21st of January 2022, and the company deducted the paid corporate bonus after my resignation.
Note: No such rule is mentioned in the offer letter/contract of employment.
Is this action by the company illegal, and can I ask them to repay the deducted bonus amount?
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Corporate bonus is part of my CTC, which is paid quarterly. I received a corporate bonus for the period of 1st October 2021 to 31st December 2021 in the month of January 2022 salary.
I resigned on the 21st of January 2022, and the company deducted the paid corporate bonus after my resignation.
Note: No such rule is mentioned in the offer letter/contract of employment.
Is this action by the company illegal, and can I ask them to repay the deducted bonus amount?
Acknowledge(0)Amend(0)
Corporate Bonus Conditions
Usually, the Corporate Bonus (Profit-sharing Bonus/Retention Bonus) is paid based on certain conditions that may not be disclosed to the employee but are mentioned in the scheme. Mr. Umakanthan has already raised a question, which is also very much valid.
The usual practice is that if an employee has spent at least one year with the organization, then the Corporate Bonus is paid.
Regards, S K Bandyopadhyay (WB, Howrah) CEO-USD HR Solutions [Phone Number Removed For Privacy-Reasons] [Email Removed For Privacy Reasons] USD HR Solutions – To Strive towards excellence with effort and integrity
From India, New Delhi
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367Usually, the Corporate Bonus (Profit-sharing Bonus/Retention Bonus) is paid based on certain conditions that may not be disclosed to the employee but are mentioned in the scheme. Mr. Umakanthan has already raised a question, which is also very much valid.
The usual practice is that if an employee has spent at least one year with the organization, then the Corporate Bonus is paid.
Regards, S K Bandyopadhyay (WB, Howrah) CEO-USD HR Solutions [Phone Number Removed For Privacy-Reasons] [Email Removed For Privacy Reasons] USD HR Solutions – To Strive towards excellence with effort and integrity
From India, New Delhi
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Amendment to Payment of Bonus Act 2015.jpg
Bonus act amendment gazette copy.pdf