As part of my CTC i have a PLI component which is pegged at 15% of my gross salary.
I work for a French company in India. We follow the French financial calendar that is sep-aug and our PLI for the financial year sep-aug is usually paid out in the month of oct post our performance reviews.
I am currently in the last leg of my notice period and was under the impression that I would be getting my PLI on a pro basis however I now understand from HR that I will not be receiving this PLI. They have said that since you will not be with the organization at the time of payout you will have to forfeit the same. I have read through all the HR policies in detail and also I have validated my appraisal letter and nowhere has it been mentioned that if you are not with the organization at the time of payout your PL will be forfeited.
As per the policy I have also served a complete three-month notice period. Can the company withhold my PLI payout? I can accept the fact that it may not be paid out to me in my fnf however is the company not liable to give me the same at the time of payout in the month of October? I have already spend 10 months of the current financial year with the organisation. I am seeking an expert advice on the same.
From India, Mumbai
I work for a French company in India. We follow the French financial calendar that is sep-aug and our PLI for the financial year sep-aug is usually paid out in the month of oct post our performance reviews.
I am currently in the last leg of my notice period and was under the impression that I would be getting my PLI on a pro basis however I now understand from HR that I will not be receiving this PLI. They have said that since you will not be with the organization at the time of payout you will have to forfeit the same. I have read through all the HR policies in detail and also I have validated my appraisal letter and nowhere has it been mentioned that if you are not with the organization at the time of payout your PL will be forfeited.
As per the policy I have also served a complete three-month notice period. Can the company withhold my PLI payout? I can accept the fact that it may not be paid out to me in my fnf however is the company not liable to give me the same at the time of payout in the month of October? I have already spend 10 months of the current financial year with the organisation. I am seeking an expert advice on the same.
From India, Mumbai
PROFESSIONALS AND BUSINESSES PARTICIPATING IN DISCUSSION
PLI if I am not wrong, it is profit link incentive. Most of the organizations are paying it after completion of the financial year (may be after 3 months) to the employees who are at pay roll of the organization at that time.
There are few exceptional organization who are paying it pro-rata basis even the employee left the organization.
It will depend on purely of the Organization's Policy. This is extra legal benefit.
S K Bandyopadhyay ( WB, Howrah)
From India, New Delhi
316There are few exceptional organization who are paying it pro-rata basis even the employee left the organization.
It will depend on purely of the Organization's Policy. This is extra legal benefit.
S K Bandyopadhyay ( WB, Howrah)
From India, New Delhi
Here PLI is performance Linked Incentive which is combination of employees performance 80% and company’s annual performance 20%
From India, Mumbai
From India, Mumbai
PLI is a bonus and in most cases it would be at the discretion of the management. In some cases, it would be on a fixed formula. It depends no the terms, which we don't know. So we can't really comment on whether it is a part of the contracted benefits and therefore payable, or it is extra and optional.
There is very little you can do, other than perhaps, take the matter up with the MD / CEO or the HR Head / Grevience Cell in France.
From India, Mumbai
There is very little you can do, other than perhaps, take the matter up with the MD / CEO or the HR Head / Grevience Cell in France.
From India, Mumbai
Company Letter for Completion 01 Month Notice.docx
06b-Form VI-B (Notice of Commencement of Contract Work).pdf