Dear All,
I am working with an IT company, where in CTC comprises of Fixed Salary and Variable Salary (30% of CTC). Company assured to pay the variable salary at the end of every year based on Individual appraisal rating and Company performance.
Due to recession, they deferred the payment. This year also they did not pay the variable component and now, they have announced that variable pay is abolished. This brings down our CTC by 30% flat.
Is there any law by which employees can get this variable as part of the fixed salary ? Because I feel company has cheated on its employees by abolishing the variable pay.
Need your guidance at the earliest.
regards
Sunny
I am working with an IT company, where in CTC comprises of Fixed Salary and Variable Salary (30% of CTC). Company assured to pay the variable salary at the end of every year based on Individual appraisal rating and Company performance.
Due to recession, they deferred the payment. This year also they did not pay the variable component and now, they have announced that variable pay is abolished. This brings down our CTC by 30% flat.
Is there any law by which employees can get this variable as part of the fixed salary ? Because I feel company has cheated on its employees by abolishing the variable pay.
Need your guidance at the earliest.
regards
Sunny