Hi Friends, I just want to know can retention bonus become a part of monthly deduction from the gross salary. Then the complete deducted amount will get payable in year end. Thanks Smita
From India, Mumbai
From India, Mumbai
The very purpose of retention bonus is to pay lumpsum amount at the end of specified period, say 1 or 2 yrs in order to retain the talent pool. Deducting monthly and paying at the year end does not sound well.
pon
From India, Lucknow
604pon
From India, Lucknow
Retention bonus cannot be deducted from monthly salary and paid later.
It is additional remuneration paid to the employee for their continuous service put up in the company as a recognition of their long service. The Retention Bonus amount will vary according to the period of stay by the employee and it will increase as per their period of service in the company.
From India, Kumbakonam
It is additional remuneration paid to the employee for their continuous service put up in the company as a recognition of their long service. The Retention Bonus amount will vary according to the period of stay by the employee and it will increase as per their period of service in the company.
From India, Kumbakonam
Dear Friends,
Thank you for this valuable information. Here i would like to have your guidelines on the following issue.
We are having a little seperate case of one of our employee. we will be deducting some part of his salary every month and will be paying to him at the end of year based on his performance.
The amount that will be deducted per month will be from his gross salray. Bit confused on which head we should show his deduction.
Thanks & regards,
Smita
From India, Mumbai
Thank you for this valuable information. Here i would like to have your guidelines on the following issue.
We are having a little seperate case of one of our employee. we will be deducting some part of his salary every month and will be paying to him at the end of year based on his performance.
The amount that will be deducted per month will be from his gross salray. Bit confused on which head we should show his deduction.
Thanks & regards,
Smita
From India, Mumbai
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Amendment to Payment of Bonus Act 2015.jpg
Bonus act amendment gazette copy.pdf
Retention quest.doc