True, about bonus, I would like to put it like this,,,,it is not the level of the employee but salary of the employee which will decide whether bonus is payable to an employee or not and, of course, bonus will not be applicable if the bonus qualifying salary of the so called VP is not more than Rs 21000 per month!
I have seen the salary structure of a very senior level employee employed in one of the Top TEN software companies in India. The CTC structure speaks about a gratuity which is calculated based on his BASIC SALARY which was Rs 13000 per month! If the gratuity qualifying salary of that employee is Rs 13000, as against his fixed remuneration of Rs 1, 37,000, he should get bonus also. This is because, for both purposes, the wages/ salary means the sum total of the amounts that an employee gets as per the contract of employment. If you say that his "salary" is Rs 137,000 and hence he is not eligible to bonus, you should calculate his gratuity also on that "salary". You cannot have two treatment,one for payment of bonus and another for payment of gratuity.