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sandeep kumar   16 June 2015

Performance bonus

Hi,

I am working with a leading insurance comapny .I have resinged in 1st week of June and comapny has declared performance bonus on 2nd week of June.I havnt recived performance bonus when I enquired with HR they said I am not eligible because I have resigned.This performance bonus is not the part of my CTC and no where mention in offer letter or appointment letter.Please advise me am I eligible for bonus.I am still in comapny till June.



Learning

 3 Replies

Kumar Doab (FIN)     16 June 2015

 

What is the period of performance for performance bonus e.g. April14-March15?

Notice of resignation is for resignation and it can be taken back before expiry of notice period anytime.

As per service conditions notice of resignation can not be accepted before expiry of notice period.

Notice of resignation does not mean resignation.

Resignation can be withdrawn before acceptance.

You are still in employment, hence you should be eligible.

Download the circular declaring performance bonus, criteria, matrix, period and also declaration of performance bonus in 2nd week of June and Target Vs Performance data. You may remove the names/logo etc  to maintain confidentiality and show the copies to an able Labor Law Consultant/Service Matters Lawyer/Law Firm dealing in Labor law matters along with all other docs on record ASAP and preferably proceed under expert advise of your counsel.

 

 

What is this establishment registered as: Commercial,Industrial?

What is its line of business:IT,ITeS,banking Life Insurance etc?

How many maximum persons are employed in it at any point of time?

The Redg Office,Corporate Office of the company, and your reporting office was located in which state?

 

What was your designation and nature of duties?

Do you have, HR policy,Service Rules and Regulations,Conduct and Discipline Rules that are mentioned in the appointment letter?

Is there any clause on arbitration for all matters in appointment letter?

 

Was any appointment letter,salary slip of each month,PF number with a/c slips,ESIC card,Form16 given to you?

Did you resign in writing under proper acknowledgment (followed by letter under acknowledgment or by Redg. Post) , and mention NO tasks are pending at your end and to whom you should handover the charge?

 

What is the notice period inserted in appointment letter?

What is the notice period tendered by you?

 

Has acknowledgment of notice of resignation, supplied to you?

Are you a member of any employee’s/Trade Unions, insurance employee’s unions?

What was your monthly salary?

 

Did you inquire with HR verbally or in writing?

Did HR reply verbally or in writing?

Did you escalate further to good offices of apointing authority,MD,Chairman in writing under proper acknowledgment?

Have you consulted eldders in the family, employee’s/Trade Unions, insurance employee’s unions, Labor Law Consultant/Service Matters Lawyer/Law Firm dealing in Labor law matters?

 

Have you been ever a member of any unions:::: students union while studying, employee’s unions while employed, trade unions while employed, etc………..?

 The people that united are well informed and supported also.

 

The first thing you should do is to become a member of employee’s unions, trade unions…………… A member while employed can lodge complaint with them in writing under proper acknowledgment  and then proceed further………………….

 

Are you aware that in many states private banks/insurance companies employees have formed unions........................and ‘Works Committee’ in a company is an authority under ID Act……………….In many states it has been made mandatory to have GRC……………………….Employee’s can form IC,GUILD etc?

 

The union leaders know precise ways to drill sense into the heads in such matters

You should provide full information, pointwise!

 

 

Kumar Doab (FIN)     16 June 2015

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Kumar Doab (FIN)     16 June 2015

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