I had submitted my resignation in Dec '12 after serving for 7 years and completing the full notice period of 3 months. I was released in March '13. The organization declared a bonus for the year 2012-13 in April '13, amounting to 140% of the annual compensation set for each individual.
Before leaving the organization, I filled out the bonus claim sheet with detailed achievements and obtained approval from my boss. However, I only received the amount specified in my annual compensation letter.
In January '13, two of my colleagues resigned and were released at the end of April '13 after serving a 3-month notice period. Since bonuses are typically paid out on the 25th of every month in this organization, they received a 140% bonus before being released on April 30th.
I am unsure if this situation is acceptable or if I should discuss it with higher management. I am seeking insights from senior colleagues on this matter.
From India, Vadodara
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Before leaving the organization, I filled out the bonus claim sheet with detailed achievements and obtained approval from my boss. However, I only received the amount specified in my annual compensation letter.
In January '13, two of my colleagues resigned and were released at the end of April '13 after serving a 3-month notice period. Since bonuses are typically paid out on the 25th of every month in this organization, they received a 140% bonus before being released on April 30th.
I am unsure if this situation is acceptable or if I should discuss it with higher management. I am seeking insights from senior colleagues on this matter.
From India, Vadodara
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Of course, yes, the bonus is payable to you until your last working date. Please write to the HR Manager/concerned person about your dues and claim the same.
For Ref: Bonus Act:
1. Section 8 relates to the eligibility for a bonus. The only requirement of that section is that the employee should have worked in an establishment for not less than thirty working days in an accounting year.
2. (1) If in any year the employer has paid any amount to an employee as a customary bonus, then he can deduct such an amount from the payable to the employee for that year. (2) If an employee is found guilty of misconduct causing financial loss to the employer, then the employer can deduct the amount of loss from the bonus payable to the employee for the year in which he was found guilty of misconduct. {Subsections 17 & 18}
Regards,
Ukmitra
From Saudi Arabia, Riyadh
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297For Ref: Bonus Act:
1. Section 8 relates to the eligibility for a bonus. The only requirement of that section is that the employee should have worked in an establishment for not less than thirty working days in an accounting year.
2. (1) If in any year the employer has paid any amount to an employee as a customary bonus, then he can deduct such an amount from the payable to the employee for that year. (2) If an employee is found guilty of misconduct causing financial loss to the employer, then the employer can deduct the amount of loss from the bonus payable to the employee for the year in which he was found guilty of misconduct. {Subsections 17 & 18}
Regards,
Ukmitra
From Saudi Arabia, Riyadh
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