My company has held back my bonus for the year saying I am not eligible for the payout since I am not an active employee of the company because I resigned before 31st march 2021. The performance period considered is for Jan-Dec 20 and the payout is due on 31st March and i resigned on 11th Feb.
The Policy states -
1.The participating employee should have join on before September 30th of the current calendar year in any of company India entities, with a continuous employment record thereafter.
2.The participating employee must be actively employed with any of company India entities on the date of payout.
3.Employee getting relieved in the middle of the year for any reason i.e. whether by resignation redundancy or termination will not be eligible for any pro-rata payment of bonus/incentive for that performance year.
4. Employee serving the notice period forfeit the right bonus on the date of resignation and will not be considered for any performance reward payout.
I find the policy very vague and the "actively employed" definition is not mentioned explicitly anywhere. As per my interpretation of the policy, I feel I am eligible for the payout since im since on the company payroll on 31st March (last working date is 9th Apr). Does my case have legal grounds to fight?
Dear Client,
Variable pay or compensation is determined based on two main factors – the employee's performance and the company's overall performance. An employee becomes eligible to get variable pay...
Dear Client,
Apart from compliance with the statutory formalities required under the Companies Act, 2013 for the closer of the business of a company or part of it, the Company has to comply with the s...
Dear Client,
Termination without notice amounts to illegal termination and is defined as an industrial dispute under Section 2A of the Industrial Dispute Act, 1947 which also violated the mandatory p...
Dear Sir
Please approach the following authority or similar authority in a state
The Office Commissioner of Labour
Karmika Bhavan, Dairy Circle,
Bannerghatta Road, Bangalore-29.
080-29753078
labou...
Dear Client,
Leave Encashment Rules for private companies vary according to their policies and local regulations. Each company has a unique leave encashment policy. Some may have a cap on the number o...
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