Dear All,
I have resigned from AB Company within 7 months. Now they have given me the full and final settlement sheet which does not contain the amount for the performance bonus, which was shown as part of the CTC. The total CTC that I agreed upon with them includes a substantial amount for the performance bonus. They are now stating that they will not provide the bonus because I have not completed a year and my performance was not satisfactory.
However, there is no such condition in any document stating that the performance bonus will be granted after one year or will depend on performance. Therefore, I believe I should receive it. Can you advise me on whether I should pursue this through the labor court?
Regards,
[Phone Number Removed For Privacy Reasons]
From India, Pune
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I have resigned from AB Company within 7 months. Now they have given me the full and final settlement sheet which does not contain the amount for the performance bonus, which was shown as part of the CTC. The total CTC that I agreed upon with them includes a substantial amount for the performance bonus. They are now stating that they will not provide the bonus because I have not completed a year and my performance was not satisfactory.
However, there is no such condition in any document stating that the performance bonus will be granted after one year or will depend on performance. Therefore, I believe I should receive it. Can you advise me on whether I should pursue this through the labor court?
Regards,
[Phone Number Removed For Privacy Reasons]
From India, Pune
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Hello friend,
Actually, a performance bonus is typically given after completing one year of service. You can consult your colleagues who have been there for more than one year to inquire whether the performance bonus is credited after completing one year of service or on a pro-rata basis.
From India, Bangalore
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23Actually, a performance bonus is typically given after completing one year of service. You can consult your colleagues who have been there for more than one year to inquire whether the performance bonus is credited after completing one year of service or on a pro-rata basis.
From India, Bangalore
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Understanding Performance Bonuses
I think you need to consult a dictionary first. The term is "performance bonus," so obviously it is based on performance. If the company is not satisfied with your performance, what makes you think that the performance bonus will come to you?
Clarifying CTC
Second, you need to Google (or search this forum) for the meaning of CTC. It is not necessarily an amount that you will get, but what it would cost the company if all things go correctly. And of course, CTC is a tool to fool the candidate into thinking they are getting more.
So there is nothing you can do about it, but wise up for the future.
From India, Mumbai
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I think you need to consult a dictionary first. The term is "performance bonus," so obviously it is based on performance. If the company is not satisfied with your performance, what makes you think that the performance bonus will come to you?
Clarifying CTC
Second, you need to Google (or search this forum) for the meaning of CTC. It is not necessarily an amount that you will get, but what it would cost the company if all things go correctly. And of course, CTC is a tool to fool the candidate into thinking they are getting more.
So there is nothing you can do about it, but wise up for the future.
From India, Mumbai
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Performance Review Form - KDCL for year 2010.xls