Hello Professionals, Greetings! I was working with one of the airlines companies of the Wadia Group. I left my job in December 2022.
Immediate Previous CTC Query
I have one query: what is Immediate Previous CTC? The reason for this query is as follows:
Appraisal and Salary Reduction
I was issued an appraisal letter on April 1, 2019, for the appraisal for the FY 2019-20, which includes PLI at 10% of CTC. In March 2020, COVID affected the whole corporation. Due to this, our salaries were reduced to 10% - 30% of our CTC as per our grade, but there was no official communication from the employer to me.
Entry of Akasa Airlines and Salary Revision
In April 2021, a new competitor, Akasa Airlines, entered the airline business. Akasa started hiring our staff as well. To prevent the outgoing staff from our company, the management issued us a salary revision letter on November 1, 2021, with an increased appraisal of salary. However, there was a verbal threat of job loss: either accept immediately or leave the job at once. After accepting the salary revision letter, one cannot resign before 12 months. If anyone resigns before the completion of the 12-month period, the increment amount will be recovered.
Appraisal Letters and Salary Reduction
There were two different appraisal letters issued, one on April 1, 2019, and the other on November 1, 2021, with clear CTC in black and white. The salary was reduced from April 2020, but there was no salary revision letter issued, and the salary was reduced during that period.
From India, Ahmedabad
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Immediate Previous CTC Query
I have one query: what is Immediate Previous CTC? The reason for this query is as follows:
Appraisal and Salary Reduction
I was issued an appraisal letter on April 1, 2019, for the appraisal for the FY 2019-20, which includes PLI at 10% of CTC. In March 2020, COVID affected the whole corporation. Due to this, our salaries were reduced to 10% - 30% of our CTC as per our grade, but there was no official communication from the employer to me.
Entry of Akasa Airlines and Salary Revision
In April 2021, a new competitor, Akasa Airlines, entered the airline business. Akasa started hiring our staff as well. To prevent the outgoing staff from our company, the management issued us a salary revision letter on November 1, 2021, with an increased appraisal of salary. However, there was a verbal threat of job loss: either accept immediately or leave the job at once. After accepting the salary revision letter, one cannot resign before 12 months. If anyone resigns before the completion of the 12-month period, the increment amount will be recovered.
Appraisal Letters and Salary Reduction
There were two different appraisal letters issued, one on April 1, 2019, and the other on November 1, 2021, with clear CTC in black and white. The salary was reduced from April 2020, but there was no salary revision letter issued, and the salary was reduced during that period.
From India, Ahmedabad
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Hi, Immediate Previous CTC should refer to your last drawn CTC, which was officially communicated to you in writing. No industry was an exception to pay cuts during the COVID pandemic. Obviously, the employer will also not be able to pay a proper salary when revenue is down drastically. However, most organizations had communicated to the employees about the same, though not individually but through a common circular. The 3- or 6-month increment reversal clause is very common in the IT industry, but one year seems a bit on the higher side. It is just an act of safeguarding employees, but instead of doing it this way, they could have tried other options like retention bonuses or performance-based bonuses.
From India, Madras
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1015From India, Madras
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CTC SALARY SLIP FORM.xls