I have searched google and didnt get much information about the variable pay out system in india. I work in a software firm. Variable pay is a component in my Offer letter and it is based on the company performance as well as individual performance from the period (Jan to dec 2012)
I would like to know the following things
(1) If i resign from the company in 2013 after working for the above mentioned period (Jan to dec 2012) and performed well, am i eligible for variable pay. Since i have worked for the period during which variable pay is calculated and the same is mentioned in the offer letter of that year, i believe i should be eligible for variable pay.
(2) As per company only employees who are in the pay roll while rolling out the variable pay is eligible for the same. Company will me rolling out incentive only in august 2013. Can company insist on this after calculating variable pay based on the performance from jan to dec 2012.
(3) The problem that an employee facing is, if an employee resigns during the period say jan to july 2013, he will not get variable pay of last year(2012) since company will roll out the variable pay only in august 2013 also he is not eligible for variable pay for the current year 2013.
Is there an labor law to solve this issue. Please give me the answers for above points.
Thank you
I would like to know the following things
(1) If i resign from the company in 2013 after working for the above mentioned period (Jan to dec 2012) and performed well, am i eligible for variable pay. Since i have worked for the period during which variable pay is calculated and the same is mentioned in the offer letter of that year, i believe i should be eligible for variable pay.
(2) As per company only employees who are in the pay roll while rolling out the variable pay is eligible for the same. Company will me rolling out incentive only in august 2013. Can company insist on this after calculating variable pay based on the performance from jan to dec 2012.
(3) The problem that an employee facing is, if an employee resigns during the period say jan to july 2013, he will not get variable pay of last year(2012) since company will roll out the variable pay only in august 2013 also he is not eligible for variable pay for the current year 2013.
Is there an labor law to solve this issue. Please give me the answers for above points.
Thank you