Is My Yearly Bonus Guaranteed or Just a Salary Hike Trick? Seeking Clarity

Hi, I have a query related to a bonus. In my offer letter, it was mentioned yearly bonus of Rs. 24,000 that will be paid at the end of the year. I have asked HR regarding this, she told me it is a statutory compliance to pay a bonus, and you will definitely get Rs. 24,000 as a bonus. Please help with the same, whether this is true or not. Will I be getting a bonus, or is it just a way to hike my salary?

Hi, you will definitely get a bonus after completion or at the end of the year as per your offer letter.

It can be a performance bonus, which might depend on your KRAs. So, the company might have a certain percentage ratio that you need to complete in a year to receive that bonus.

Alternatively, it can be an annual bonus that you will receive after the completion of your company's financial year. I suggest you have a discussion with the HR-SPOC. He/She will be able to assist you better :)

Regards,
Sudeep