Hi, I am working with a japan based MNC as an engineer. Now I am getting a better offer to switch my firm. But my new employer is asking me to join within 10 days, for which i need to pay to the company as per the notice period. But in the handbook and salary agreement its written that i need to pay the proportionate compensation for each month. What does this proportionate compensation includes????
From India, New Delhi
From India, New Delhi
Dear Friend
From your statement it is clear that you got a better offer elsewhere and you require to join within 10 days in new company. In this connection, you require to give notice to the existing employer as per the terms of your appointment or else make payment in lieu of notice, enabling you to join in the services of new employer.
In such a case, the new employer is required to make payment to existing employer by way of compensation on your behalf to get the early reliving of you from their service. I think, this amount is required to be recovered from your monthly salary proportionately by your new employer i.e monthly so ........so amount. Any how get the clarity with HR dept of your new employer on the above issues and take an appropriate further action
Regards
From India, Hyderabad
55From your statement it is clear that you got a better offer elsewhere and you require to join within 10 days in new company. In this connection, you require to give notice to the existing employer as per the terms of your appointment or else make payment in lieu of notice, enabling you to join in the services of new employer.
In such a case, the new employer is required to make payment to existing employer by way of compensation on your behalf to get the early reliving of you from their service. I think, this amount is required to be recovered from your monthly salary proportionately by your new employer i.e monthly so ........so amount. Any how get the clarity with HR dept of your new employer on the above issues and take an appropriate further action
Regards
From India, Hyderabad
Dear NV Rao,
I understand what you say. But i want to know that just in case i am to pay all the compensation to my current employer.
Then how much that compensation would be i.e. which components of my salary would i have to pay?????
Warm Regards,
Kashish
From India, New Delhi
I understand what you say. But i want to know that just in case i am to pay all the compensation to my current employer.
Then how much that compensation would be i.e. which components of my salary would i have to pay?????
Warm Regards,
Kashish
From India, New Delhi
Dear Friend
Suppose if you give notice period of one month and if you want to get the relieving in existing employer company after working for 10 days, then you require to pay 20 days salary in lieu of unserved notice period or else you can request your present employer to adjust un availed earned leave balance if any in your credit to the shortfall of notice.
You are require to pay gross salary for the shortfall of notice period.
Regards
From India, Hyderabad
Suppose if you give notice period of one month and if you want to get the relieving in existing employer company after working for 10 days, then you require to pay 20 days salary in lieu of unserved notice period or else you can request your present employer to adjust un availed earned leave balance if any in your credit to the shortfall of notice.
You are require to pay gross salary for the shortfall of notice period.
Regards
From India, Hyderabad
Hello Kashish,
Are you sure you have understood the Rules correctly?
Pl note that one CAN'T TAKE FOR GRANTED about the Notice Period Buyout mechanism/option in the HR Policies. The Company--practically, the Reporting Boss--has to agree to it, even though the options is mentioned.
Pl make sure of this point BEFORE you resign OR GIVE your Acceptance to the new Offer. Else there's every chance that you will land into trouble. Pl see some recent threads in CiteHR of such scenarios [use the 'research' facility @ the top of this page].
All the Best.
Rgds,
TS
From India, Hyderabad
Are you sure you have understood the Rules correctly?
Pl note that one CAN'T TAKE FOR GRANTED about the Notice Period Buyout mechanism/option in the HR Policies. The Company--practically, the Reporting Boss--has to agree to it, even though the options is mentioned.
Pl make sure of this point BEFORE you resign OR GIVE your Acceptance to the new Offer. Else there's every chance that you will land into trouble. Pl see some recent threads in CiteHR of such scenarios [use the 'research' facility @ the top of this page].
All the Best.
Rgds,
TS
From India, Hyderabad
Dear Kashish, Greetings.
The point made out in your so called hand book and salary agreement is not at all clear. Kindly consult your HR regarding the notice period you have to give to your present employer. For example if the notice period is three months and you are resigning immediately you have to pay the salary in lieu of your notice period. If you give a notice and serve for a month and leave the present employer, you have to pay two month's salary in lieu of the notice period left out.
Hope you are clear. Please ascertain the position from the HR of the present employer and act according to his advice.
R P Ramanathan, Advocate and HR Consultant, Coimbatore Mob.09994675721
From India, Coimbatore
The point made out in your so called hand book and salary agreement is not at all clear. Kindly consult your HR regarding the notice period you have to give to your present employer. For example if the notice period is three months and you are resigning immediately you have to pay the salary in lieu of your notice period. If you give a notice and serve for a month and leave the present employer, you have to pay two month's salary in lieu of the notice period left out.
Hope you are clear. Please ascertain the position from the HR of the present employer and act according to his advice.
R P Ramanathan, Advocate and HR Consultant, Coimbatore Mob.09994675721
From India, Coimbatore
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Published_draft _rules_on Employees_ compensation 3.6.2020.pdf