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
Notice period buy out option - is basic pay considered for buy out? - 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


Anonymous
Hi all, "I am working for small private software development company form past 4 months.This is my second company. I resigned due to personal reason and company is asking me to serve 90 days else pay the remuneration. As per offer letter, I fall into two clause 1.I didn't get written communication from them on completion of probation period of first 90 days. 2. it states termination by either party can be done by giving np of 90 days or pay/recover up to 3 months fixed salary in lieu of notice.
Also the company policy book says , if employee resigns after completion of 1st 90 days of probation,employees must give 3 months notice of resignation. The employer may waive the resignation notice in whole or in any part at any time by providing payment of regular wages for the period so waived."
My concern is:
1. They accepted the resignation but are asking me to serve 90 days or pay remuneration for 90 days. Going by their policy handbook, I was confused about "regular wages" term. is basic pay considered for buy out?
2. They are telling,only offer letter condition is considered as I have signed only on that and not on employee policy handbook,because policy can be changed at any time. (But currently the policy has not been changed since 4 months of my tenure here)
3. So in offer letter it states as "fixed salary" payable for notice period. So is this gross or basic salary?
Kindly advise at the earliest as I have halted all my personal finance due to confusion on buy out amount since I have no other choice than buy out.

From India, Bengaluru
KK!HR
1422

In normal parlance and as used widely in the industry, 'Fixed salary' includes all constant elements in your pay packet but does not include variable pay like incentives, traveling allowances or sales commission etc. We need to know your salary components to state clearly the components included.
From India, Mumbai
Anonymous
Hi, Thanks for the reply. My pay structure includes basic,dearness allowance,HRA,special allowance and conveyance under Gross Salary. Kindly advice.
From India, Bengaluru
KK!HR
1422

You have to include basic & DA. You need not pay HRA, Spl All & Conveyance as they are contingent upon performance of duty.
From India, Mumbai
Jyoti.triumph
Hi!! As rightly mentioned by KK!HR, 'Fixed salary' includes all constant elements in your pay packet but does not include variable pay. Hence for you, it simply means three month of Gross salary.
From India, New 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.