Dear Seniors,
My basic salary is 15,000 per month, and as per the CTC breakup by HR, I am eligible for a bonus at 8.33% of my basic pay. The monthly bonus amount and the yearly bonus eligible amount are clearly mentioned in the CTC breakup sheet, which is duly signed by the HR Manager and HR Team. However, our HR is now stating that, according to the bonus act, I am not eligible for a bonus.
Question on Bonus Eligibility
During the salary negotiation, the bonus amount was included in our CTC. I have been with this company for the past 7 years and have not faced such issues before. I understand that bonuses are generally ineligible for basic pay over 10,000, but in this case, should I still receive a bonus? If I am not eligible for a bonus, how can I receive the amount specified as a bonus in the CTC?
Kindly guide.
Regards, Lalitesh
From India, Mumbai
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My basic salary is 15,000 per month, and as per the CTC breakup by HR, I am eligible for a bonus at 8.33% of my basic pay. The monthly bonus amount and the yearly bonus eligible amount are clearly mentioned in the CTC breakup sheet, which is duly signed by the HR Manager and HR Team. However, our HR is now stating that, according to the bonus act, I am not eligible for a bonus.
Question on Bonus Eligibility
During the salary negotiation, the bonus amount was included in our CTC. I have been with this company for the past 7 years and have not faced such issues before. I understand that bonuses are generally ineligible for basic pay over 10,000, but in this case, should I still receive a bonus? If I am not eligible for a bonus, how can I receive the amount specified as a bonus in the CTC?
Kindly guide.
Regards, Lalitesh
From India, Mumbai
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Yours is a very tricky case, Lalitesh. Send me your CTC sheet (that you signed at the time of the salary negotiation) and your latest/last CTC sheet. Let me go through it. Also, let me know the following:
1. When and how did your company pay you the earlier bonus?
2. Was it once a year, twice a year, or monthly (since you have used the term "monthly bonus" in your note)?
3. When was this payment(s) done (which month)?
4. How was this payment(s) done (in the bank or in cash)?
5. What category of employee are you (staff/workman)?
6. What's your work location (whether it's in a factory/corporate office/sales office, etc)?
7. This "bonus" that is being referred to; is it a performance bonus, a statutory bonus, or a combination of both?
These details will help us to understand a bit more about your case and give you a proper response.
Regards,
A.B.
From India, Mumbai
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381. When and how did your company pay you the earlier bonus?
2. Was it once a year, twice a year, or monthly (since you have used the term "monthly bonus" in your note)?
3. When was this payment(s) done (which month)?
4. How was this payment(s) done (in the bank or in cash)?
5. What category of employee are you (staff/workman)?
6. What's your work location (whether it's in a factory/corporate office/sales office, etc)?
7. This "bonus" that is being referred to; is it a performance bonus, a statutory bonus, or a combination of both?
These details will help us to understand a bit more about your case and give you a proper response.
Regards,
A.B.
From India, Mumbai
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Thank you for your response. Kindly see my reply.
Send me your CTC sheet (that you signed at the time of the salary negotiation) and your latest/last CTC sheet. Let me go through it. @@ Lalitesh: Kindly share your email ID, and I will send you the latest CTC.
Bonus Payment Details
1) When & How did your company pay you the earlier bonus?
@@ Lalitesh: At the time of the Diwali festival (one or two days before the Diwali date each year) through direct bank deposit.
2) Was it once a year, twice a year, or monthly (since you have used the term "monthly bonus" in your note)?
@@ Lalitesh: It's once a year, but the monthly bonus amount and yearly bonus amount are mentioned in the CTC sheet.
3) When was this payment/s done (which month)?
@@ Lalitesh: The last payment was done last year at the time of the Diwali festival.
4) How was this payment/s done (in the bank or in cash)?
@@ Lalitesh: Earlier, it was paid through cheque, but for the last three years, we have been receiving direct deposits in our bank account.
Employee and Work Details
5) What category of employee are you (staff/workman)?
@@ Lalitesh: Staff (My title is Assistant Manager - Compliance)
6) What's your work location (whether it's in a factory/corporate office/sales office/etc)?
@@ Lalitesh: Work location is Noida. It's a print and packaging factory (100% export unit).
Bonus Type Clarification
7) This "bonus" that is being referred to; is it a performance bonus or a statutory bonus or a combination of both?
@@ Lalitesh: It is purely a statutory bonus. As in CTC, it is clearly mentioned as a bonus.
Regards
From India, Mumbai
Acknowledge(0)Amend(0)
Send me your CTC sheet (that you signed at the time of the salary negotiation) and your latest/last CTC sheet. Let me go through it. @@ Lalitesh: Kindly share your email ID, and I will send you the latest CTC.
Bonus Payment Details
1) When & How did your company pay you the earlier bonus?
@@ Lalitesh: At the time of the Diwali festival (one or two days before the Diwali date each year) through direct bank deposit.
2) Was it once a year, twice a year, or monthly (since you have used the term "monthly bonus" in your note)?
@@ Lalitesh: It's once a year, but the monthly bonus amount and yearly bonus amount are mentioned in the CTC sheet.
3) When was this payment/s done (which month)?
@@ Lalitesh: The last payment was done last year at the time of the Diwali festival.
4) How was this payment/s done (in the bank or in cash)?
@@ Lalitesh: Earlier, it was paid through cheque, but for the last three years, we have been receiving direct deposits in our bank account.
Employee and Work Details
5) What category of employee are you (staff/workman)?
@@ Lalitesh: Staff (My title is Assistant Manager - Compliance)
6) What's your work location (whether it's in a factory/corporate office/sales office/etc)?
@@ Lalitesh: Work location is Noida. It's a print and packaging factory (100% export unit).
Bonus Type Clarification
7) This "bonus" that is being referred to; is it a performance bonus or a statutory bonus or a combination of both?
@@ Lalitesh: It is purely a statutory bonus. As in CTC, it is clearly mentioned as a bonus.
Regards
From India, Mumbai
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