Full and finally settlement as per CTC
SB21091971
(Querist) 13 September 2016
This query is : Resolved
My CTC consist of performance bonus of 15% of my basic i.e. approximately 2 lacks per annum. However this is under clause of fulfilment of agreed performance parameter and couched by immediate boss at the end of the financial year. And this to me, can never be a part of agreed cost to company by principle. However, I resigned in Sep and so far there is no agreement signed off between me and management till my resignation.
Therefore I demand 100% of my perf bonus on prorated basis in full and final settlement.
Am I legally right?
Raj Kumar Makkad
(Expert) 13 September 2016
Company can allow and even can refuse without having any specific clause favouring your case wherein prorate bonus may be provided in such eventuality. Make representation and wait for the outcome.
Kumar Doab
(Expert) 14 September 2016
Performance related payouts are also fruit of labor, like wages.
Download the complete policy related to Performance Bonus, Performance Data, and report of your manager.
Apply for it and ask to compute in CORRECT FnF statement.
Let them reply whatever they want.
Rajendra K Goyal
(Expert) 14 September 2016
Refer the policy regarding the same.
Whether the PB is to be paid to person on roll on the end of the year or to all?
Company may refuse, you were not a part of team at the year end.
Dr J C Vashista
(Expert) 18 September 2016
Nothing more to add, well advised by experts, I agree.
