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Author Topic: Employer refuses to payout Retention Bonus  (Read 319 times)

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Offline AgentA

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Employer refuses to payout Retention Bonus
« on: February 11, 2016, 02:13:08 AM »
Hello,

I need advice on pursuing my case for retention bonus with my previous employer on legal terms.

My annual compensation had a component for retention bonus which is paid on successful completion of one year. I resigned after 9 months of employment and served 3 months of notice period and thus completed exactly 1 year and 7 days in the company.

Now, during Full & Final settlement, the employer is refusing to pay the retention bonus component of Rs. 1,00,000.

I requested multiple times but the employer is not ready to budge. So, I need legal advice to pursue the matter. Following are more details:

Date of joining: 20th Jan 2015
Date of resignation: 6th Nov 2015
Date of leaving: 29th Jan 2016

Terms mentioned in offer letter / appointment letter:

"Your total annual remuneration on Cost to Company basis will be Rs. 16,00,000 which includes Rs. 1,00,000 as Retention Bonus paid at successful completion of one year".

Thanks!!

 

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