I had joined New company in Feb 2017. On offer letter they stated bonus of equal to your basic approx 20 k will be given to you. But now they are telling me a different story that you joined in financial year 2016-17 so now we will give you only 5k and next year you will get 20k. I am confused in this.
What he said Is that right ? I am eligible or not to claim my full bonus ?
With Regards !
Himanshu Sharma.
From India, Delhi
What he said Is that right ? I am eligible or not to claim my full bonus ?
With Regards !
Himanshu Sharma.
From India, Delhi
Dear Himanshu Sharma,
The bonus mentioned in the offer letter is not in absolute terms but only an approximate amount. Whether it is statutory bonus or otherwise, its computation and payment is based on the period of any stretch of consecutive12 months depending upon the Accounting Year adopted by the organization.
Your post indicates that the Accounting Year adopted is the Financial Year comprising of the 12 month period commencing from April,1 and ending with March,31 every year respectively. Admittedly, you've joined in February,2017. When the accounts of the Company are balanced for the financial year 2016-'17, you will get your bonus proportionately for the period of your service in the FY i.e for the months of February and March.2017 only. Therefore, what your Management says is correct in so far as your eligibility for bonus for 2016-17 is concerned.
Regarding the amount of bonus you are entitled to for the period, it depends upon the fact what mentioned is whether the statutory bonus or otherwise and the componential structure of your salary as well.
From India, Salem
5967The bonus mentioned in the offer letter is not in absolute terms but only an approximate amount. Whether it is statutory bonus or otherwise, its computation and payment is based on the period of any stretch of consecutive12 months depending upon the Accounting Year adopted by the organization.
Your post indicates that the Accounting Year adopted is the Financial Year comprising of the 12 month period commencing from April,1 and ending with March,31 every year respectively. Admittedly, you've joined in February,2017. When the accounts of the Company are balanced for the financial year 2016-'17, you will get your bonus proportionately for the period of your service in the FY i.e for the months of February and March.2017 only. Therefore, what your Management says is correct in so far as your eligibility for bonus for 2016-17 is concerned.
Regarding the amount of bonus you are entitled to for the period, it depends upon the fact what mentioned is whether the statutory bonus or otherwise and the componential structure of your salary as well.
From India, Salem
Dear Himanshu, They are paying you more bonus , you are actually eligible only for Rs. 3333/-
From India, Pune
From India, Pune
Dear Himanshu,
Your company paid the bonus as per actual. You are only eligible to get for the period February and March'2017 as you joined compny in Feb 2017.
Your offer letter speak of for the complete period i.e. April-2016 to March-2017. You should not feel that injustice was done to you, since you do not have information about Bonus. Hope the above clarification would clear your doubts.
Regards
From India, Mumbai
Your company paid the bonus as per actual. You are only eligible to get for the period February and March'2017 as you joined compny in Feb 2017.
Your offer letter speak of for the complete period i.e. April-2016 to March-2017. You should not feel that injustice was done to you, since you do not have information about Bonus. Hope the above clarification would clear your doubts.
Regards
From India, Mumbai
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