Retention bonus
4 years ago
As per the offer letter from the organization, an employee is entitled to receive total 1 lac of yearly retention bonus, in two tranches i. e. 50k after 6 months and rest 50k after completion of 1 year. But. As offer letter says, " an employee should return the bonuses paid to him till date if he LEAVES the organization before completion of 1 year. As per the offer letter, this is the only condition to be eligible for the bonus.
An employee joined on 23rd May 2019. Resigned on 24th Feb 2020 with three months notice period, his last day is 23rd May 2020. So he is completing 1 year if notice period is to be considered.
How much of the 1 lac he should get? And what are the course of actions an employee can initiate if he Doesn't get what he is eligible for?
You may get issue a legal notice to exercise your legal rights.
ABHISHEK VERMA
Responded 4 years ago
As per your query , an employee shall got Rs 1 lac if he completes one year period because of the clause mentioned in the offer letter that completion of 1 year. If no other clause is mentioned like notice period or any thing related to it. Also check the clause mentioned in the appointment letter if issued by a company because it will consider as a employment contract which would help in the case further.
Employee can fill complaint against the company in the labor court for the benefits.
Pls feel for contact and any query
Abhishek Verma
Need help in securing my stake that was promised verbally
Seeking Legal Advice Regarding Employment Issue
Accountant in a production house
Not paid the April month salary
Salary deduction for not serving notice period
