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Layoff: Company doesn’t agree to pay variable component and retention bonus
1 year ago
My company has laidoff within 10 months of my service. I have variable pay and retention bonus components in CTC. Is company liable to pay these two components as it’s their decision to discontinue my service, not my voluntary resign?
A.Dear Client,
If you were terminated before the annual variable pay was decided you might not be liable to get the same as this pay depends on the work and contribution of the employee. For the retention bonus pay you will not be entitled to payment if you exit the organization before the due date of the retention scheme.
You can consult a lawyer near you in regards to the same as he can understand your situation better.
Thank you so much, I hope this answer helped you.
If you were terminated before the annual variable pay was decided you might not be liable to get the same as this pay depends on the work and contribution of the employee. For the retention bonus pay you will not be entitled to payment if you exit the organization before the due date of the retention scheme.
You can consult a lawyer near you in regards to the same as he can understand your situation better.
Thank you so much, I hope this answer helped you.
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