Warning: preg_match(): Unknown modifier 'c' in [path]/showthread.php on line 2297

Warning: preg_match(): Unknown modifier 'c' in [path]/showthread.php on line 2298

Warning: preg_replace(): Empty regular expression in [path]/showthread.php on line 2381

Warning: preg_replace(): Empty regular expression in [path]/showthread.php on line 2381

Warning: preg_replace(): Empty regular expression in [path]/showthread.php on line 2381
Bond Issue--pls Help - Doc Download - CiteHR

No Tags Found!

SH

Shai89308

Executive Hr

AS

Ammu Shanvi

Human Resource

GS

G SHASHI KRISHNA

Senior Manager - Hr

AH

Aizant HR

Human Resources

MA

MARSHAL

Safety Officer

AK

Anish Katoch

Hr Executive

PR

PranjalR

Hr Recruiter

AP

Alka Pal

Hr Executive

Karthikeyan8195

Management Consultant

MK

Mohit Kumar Puri

Head Marketing

AU

Austex

Accounts Manager


V. Balaji
100

Dear friend,
I am also of the opinion that deduction of certain percentage from salary and keeping aside towards bonus to be paid after 3-4 years of service, is not right. As conveyed by M/s Rajan Associates, only certain deductions are permissible under the law and we cannot do so as per your current practice.
No organization wants people to quit. There are different retaining strategy being followed by different organizations. But those strageties must be in accordance with the law.
Please see attached a policy that we developed for retaining employees in our organization. Probably you may think on these lines too. You can fine-tune the same to suit your organization.
V. Balaji

From India, Madras
Attached Files (Download Requires Membership)
File Type: doc Loyalty Bonus scheme - usable.doc (47.5 KB, 289 views)

K. Gopalakrishnan
15

Dear HR Fraternity,
I go with Mr.Shish Ram Uniyal's suggestion. In North Chennai in one good Company, they keep certain amount as Retention amount for certain period (years) (minimum & maximum 3 ~ 5 years respectively, is good as for my knowledge is concerned) and this is issued alongwith the Confirmation Order.
Once the employee completes the prescribed period, immediately after completion of the period, he/she is being issued with the retention amount without any delay.
It is not illegal. It should not be deducted from the salary of the employee. It should be exclusively given as Retention Bonus (based on his/her performance it should be issued). It can be calculated for Total CTC also.
K. Gopalakrishnan (Gopi)
Sriperumbudur
90940 16863

From India, Bangalore
Vasant Nair
90

I am in total agreement with Mr. Uniyal. Holding on to original documents, retaining part of the salary for 4 years etc.. are very poor HR strategies.
Instead the organization should focus on creating a work environment which would promote employee retention and reduce attrition.
Think of best Employee Retention measures that would best suit your organization and implement them.
Best Wishes,
Vasant Nair

From India, Mumbai
sonu.gupta
As per Section 43B of the Income Tax Act,
Any bonus or commission to employees, during the relevant assessment year, are allowed to the employer only if the payment made before the due date of filling return of income.
Then keeping in mind the above legal provision, if the employer have made for the bonus or commission will be payable on or before 30/sept of the suceeding FY, otherwise it will be disallowed to them.
Regards,
Sonu gupta

From India, Delhi
Bani2010
While I find merit in bonus provision, please see whether it can be part of CTC while negotiating salary. Else such top-up, Management usually may not be at comfort with.
From India, Delhi
Find answers from people who have previously dealt with business and work issues similar to yours - Please Register and Log In to CiteHR and post your query.





About Us Advertise Contact Us Testimonials
Privacy Policy Disclaimer Terms Of Service

All rights reserved @ 2024 CiteHR ®

All Copyright And Trademarks in Posts Held By Respective Owners.