I am looking for a letter format that discusses variable pay. This will be part of the increment letter.
Variable Pay Details
In addition to the revision above, you will be eligible for variable pay as decided by the company every year. The variable pay for FY '15 will be communicated to you separately.
Payment Schedule
Then in a separate letter, there needs to be a mention of the payment schedule and a note that 'The payment schedule above is indicative and is subject to quarterly decisions taken based on performance by the company.'
Can anyone share an IT company's variable pay letter format?
Regards,
Rekha
From India, Bangalore
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Variable Pay Details
In addition to the revision above, you will be eligible for variable pay as decided by the company every year. The variable pay for FY '15 will be communicated to you separately.
Payment Schedule
Then in a separate letter, there needs to be a mention of the payment schedule and a note that 'The payment schedule above is indicative and is subject to quarterly decisions taken based on performance by the company.'
Can anyone share an IT company's variable pay letter format?
Regards,
Rekha
From India, Bangalore
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Hi Rekha, just see if this will help you.
Variable Pay Eligibility
«Gender». «EMPLOYEE_NAME»
Emp Code: «EMP_No»
We are happy to inform you that you would be eligible for Rs. ...... as variable pay. This is payable monthly, quarterly, or annually, subject to the achievement of mutually agreed KRAs (you can probably incorporate the eligibility criteria here). All the other terms and conditions remain unchanged.
Wish you all the success!!
For ................
Name
Designation
From India, Bangalore
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7Variable Pay Eligibility
«Gender». «EMPLOYEE_NAME»
Emp Code: «EMP_No»
We are happy to inform you that you would be eligible for Rs. ...... as variable pay. This is payable monthly, quarterly, or annually, subject to the achievement of mutually agreed KRAs (you can probably incorporate the eligibility criteria here). All the other terms and conditions remain unchanged.
Wish you all the success!!
For ................
Name
Designation
From India, Bangalore
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Increment Letter Format.doc