Bonus as part of CTC
RAMAKRISHNAN
(Querist) 07 February 2011
This query is : Resolved
Dear Sir,
Our company has meninonted in appointment letter 15% bonus ( on Basic salary ) in the total cost salary . I have resigned in the month of Jan'11.
Company HR Dept saying that I amnot entiltle for Bonus for last year 2010-2011 period, Since I have resigned in the month of Jan'11. company is account Jan to Dec each year.Bonus will be given each year in the month of march
Question.
Am I elibile for bonus for the year of 2010 - 2011.?.
kindly confirm the bonus Elibility to me for The last year Performance.
Guest
(Expert) 07 February 2011
BONUS IS DECLARED FOR WORK ON 12 MONTHS SALARY IN A FINANCIAL YEAR.IN CASE YOU HAVE WORKED FOR FULL FINANCIAL YEAR FROM JAN.2010 TO DEC.2010 AND RESIGNED IN JANUARY .2011,THEN YOU ARE ELIGIBLE FOR BONUS FOR THE LAST FINANCIAL YEAR.YOU MAY GET THE SAME WITH FINAL SETTLEMENT OF ACCOUNT OR AS YOU HAVE ALREADY RESIGNED YOUR NAME WILL BE REMOVED FROM PAYROLL OF PERMANENT EMPLOYEES AND HENCE THERE MAY BE SEPERATE PAYMENT OF BONUS FOR STAFF WHO RESIGNED.YOU MAY KINDLY CHECK WITH PERSONNEL DEPT AND ACCOUNTS DEPT OF YOUR ORGANISATION.IN CASE OF ANY PROBLEM AS PER YOUR DESIGNATION YOU MAY FILE APPLICATION TO LABOUR / INDUSTRIAL COURT OR IN CASE YOU ARE NOT COVERED AS WORKMAN AND ARE UNDER OFFICER CATEGORY THEN YOU MAY FILE A CIVIL SUIT FOR RECOVERY OF ARREARS.GOOD LUCK.
