Hi,
My query is related to Statutory Bonus and On-Target Variable Compensation. Please note that, as per the offer letter, my salary breakup is as follows:
Total Fixed Compensation - 2,37,500
Annual Variable Compensation - 12,500
Total Cash Compensation - 2,50,000
As my Basic is below 10k, I am getting Rs. 700 as statutory bonus (which is not mentioned in my offer letter). At the time of bonus payout, I received Rs. 4,100 as per the below structure:
Annualized Target VC - 12,500
Paid towards Statutory Bonus - 8,400 (700*12)
Gross VC - 4,100.
Please let me know if the same is correct or not. My email address is deep.m.9990@gmail.com.
Thanks.
From India, Calcutta
Acknowledge(0)
Amend(0)
My query is related to Statutory Bonus and On-Target Variable Compensation. Please note that, as per the offer letter, my salary breakup is as follows:
Total Fixed Compensation - 2,37,500
Annual Variable Compensation - 12,500
Total Cash Compensation - 2,50,000
As my Basic is below 10k, I am getting Rs. 700 as statutory bonus (which is not mentioned in my offer letter). At the time of bonus payout, I received Rs. 4,100 as per the below structure:
Annualized Target VC - 12,500
Paid towards Statutory Bonus - 8,400 (700*12)
Gross VC - 4,100.
Please let me know if the same is correct or not. My email address is deep.m.9990@gmail.com.
Thanks.
From India, Calcutta
Acknowledge(0)Amend(0)CiteHR is an AI-augmented HR knowledge and collaboration platform, enabling HR professionals to solve real-world challenges, validate decisions, and stay ahead through collective intelligence and machine-enhanced guidance. Join Our Platform.
Rules for Statutory Deductions Exemptions Perquisites-Pay roll.doc