Hi, I want to plan My Resiging for my job and want to determine my Full and Final Settlement.
Here are the Details about my Income and company policies.
1. Salary slip Feb 2023
2. My old salary COMPENSATION STRUCTURE (New not Given By Company)
I just only want there is something wrong with the compensation STRUCTURE and my salary
there is mentioned Variable amount 2000 rs. per month but I didn't get a condition about PLB. Can I get PLB if I resign in April 2023
From India, Mumbai
Here are the Details about my Income and company policies.
1. Salary slip Feb 2023
2. My old salary COMPENSATION STRUCTURE (New not Given By Company)
I just only want there is something wrong with the compensation STRUCTURE and my salary
there is mentioned Variable amount 2000 rs. per month but I didn't get a condition about PLB. Can I get PLB if I resign in April 2023
From India, Mumbai
PROFESSIONALS AND BUSINESSES PARTICIPATING IN DISCUSSION
We are not aware what PLB means, is this organisation specific factor or probably it refers to profit-linked bonus. If it is so, then all employees who have served for more than 30 days in a year are eligible to receive bonus as per the Payment of Bonus Act 1965 for that year.
Going by the attached compensation structure, PLB is ineligible
to the employees serving the notice period on the date of its payment. Guideline says eligible employees should be active and not serving the notice period at the time of disbursement of PLB.
Unless we get clarity on what PLB means, we cannot advise further.
From India, Mumbai
1422Going by the attached compensation structure, PLB is ineligible
to the employees serving the notice period on the date of its payment. Guideline says eligible employees should be active and not serving the notice period at the time of disbursement of PLB.
Unless we get clarity on what PLB means, we cannot advise further.
From India, Mumbai
Dear Ashish
Your concern seems valid- however you need to get clarification on Variable Pay of Rs 240000 mentioned in your CTC statement.
They have mentioned it is as per Policy - what is the policy for payment of variable pay? As such it has not reflected in attached salary sheet.
Regard
Shailesh Parikh
99 98 97 10 65
Vadodara, Gujarat
From India, Mumbai
Your concern seems valid- however you need to get clarification on Variable Pay of Rs 240000 mentioned in your CTC statement.
They have mentioned it is as per Policy - what is the policy for payment of variable pay? As such it has not reflected in attached salary sheet.
Regard
Shailesh Parikh
99 98 97 10 65
Vadodara, Gujarat
From India, Mumbai
From the salary structure what I observed is that there is an important component, viz, Bonus, absent in it. In the absence of bonus as an yearly component, you can take the PLB (Performance Linked Bonus?) as statutory bonus. But Bonus cannot be denied to persons who are serving notice period. Since it is equal to one month salary, the same cannot be denied to the employee on the ground of notice period. Please check with the Personnel team what does PLB stands for and why is Bonus is missing in it.
From India, Kannur
From India, Kannur
Full n final settlement.doc
Full & final.xls