Payment of bonus
Querist :
Anonymous
(Querist) 28 November 2011
This query is : Open
I have retired from Stock Holding Corporation of India Limited in January, 2011. The organization pays annual bonus only to In-service employees. However they term this as Incentive payment and the payment is based on four grades A B, C and D. The payment is based on the attendance of the previous accounting year.
As I have retired and become ex-employee, am I eligible for the above payment. Can I demand the payment from the company.
I understand that the Incentive is additional payment to those who excel the well defined norms set by the company (like Sales Target, Production Target etc.) In the present case there is no such norms and it is sharing of profit earned by the company. Is the company legal in adopting the grades for the payment.
Please guide and reply me so that many ex-employees of SHCIL who have been deprived of Bonus can take steps to get the same. Please whom to approach and steps to be taken to get Bonus for ex employees.
Regards
Ganapathi S. Iyer
