Receive Variable Bonus after resignation?

[Foofam77]

considering the following:

 

- pay day: 20th every month

- variable bonus accrual period end Dec 08 (i.e. 1 Jan 08 till 31 Dec 08) and payable on 20 Jan 09

- have been in the Company during the variable bonus accrual period (i.e. 1 Jan 08 till 31 Dec 08)

- last day with Company: 10 Jan 09

 

 

Upon the last day, is the resignee entitled to receive variable bonus for the period 1 Jan 08 to 31 Dec 08? - assuming variable bonus is not contractual inside the employment contract.

[Apollo]

since u already said not in contract.. tio si boh one lor.

 

look forward.. u hv little choice.

[Dwoon]

What is practised in the company I work for is that, as long as the employee is on payroll, he/she will be entitled.

 

Therefore, if the bonus is dished out during the resignation notice period, he/she will still get it. But if it falls out of the date and the employee is already out of the payroll (i.e. already out of teh company), then there'll not be any bonus issued.

[Michel]

My sentiments as per Apollo's.

 

But then again, it depends on the generosity of the company.

[Tjkbeluga]

Since variable is non-contractual, they may not give and there's nothing you can do. Bonus is one of the way to keep staff so that they stay to look forward for another one next year. Since you are leaving, unless they still hope that you come back and join them again, they may not give you... seng ki lai... That's why ppl always tender only after get bonus....

Edited July 30, 2008 by Tjkbeluga

[Wish1719]

If you are talking about summitting your resignation on the 10 Jan 2009, maybe yes if you have collected your bonus letter. But in most cases you need to give at least 1 month notice, and if that's the case, they can just pretend not to give you a single cent. Cos you summit your resignation on the 11 Dec 08. Letter not out yet.

[Apollo]

aiya.. last time l lost $8K for secured commission also.. company chow kuan. manager refuse to pay.

 

i feel is he refuse to stick in for me becos i turn to competitor.

 

in the end he lost his job also come look for me for help i also abit lukewarm to help him.

 

wat goes ard do come ard lor.

[Apollo]

depends lah.. if the bonus so much, can tender 24 hour one and pay 1 month back also.

[Wish1719]

what i'm trying to say is if the co has not given out the bonus letters to the staff, they can still opt not to give him/her, since he/she has tender their resignation. If given letter liow, you can of course tender 24 hours, clean your butt and at most pay the 1 month notice period to them...

[Spikedoll]

hehe..that's smarter idea..tender 24hr pay 1mth back ..if bonus fat fat

[Damienic]

I know of someone who tendered few days after his company alr credited his bonus into his bank account (already received) and much to his shock, the company wants to collect it back..

[Spikedoll]

wah..that's too much lah.. so did this someone pay them back?

[Damienic]

he does not have a choice..they deduct it from his next pay towards end of his notice period..

[Blackyv]

i think each company has their own rules and policy... as for my company, they take one mth notice period as the "have" period..

 

let's say in this case apply for my company staff,

since the payable date for the bonus is fixed on 20/jan, means anyday before 19/dec tender will not get a dime...... if i tender on 20/dec but last day is 10jan, after i minus off with my balance leaves or whatever reason.., i will still get the bonus according to my company policy.....

 

so, for my company, one part of the bonus is on 1st/April.. every year, HR and manager will expect resignation letter on 1st/Mar.... of cause for those who is a bit kiasi even knowing company policy, normally will wait for the money in bank before tender...

[Tjkbeluga]

What a fxxked up company... Bonus is given to reward past efforts, not future efforts. I think that guy can even report this case to MOM. May not get a cent, but at least give them some black mark also song.

[Damienic]

this ****ed up company tells this guy they can agree not to deduct the bonus back on condition he agree to extend notice period...as this guy alr given his word to join the new company by certain date, there was no way he could extend notice period..in the end, LL let them deduct..

Edited July 30, 2008 by Damienic

[Tjkbeluga]

No such thing maa... So long as he comply to all condition in his employment contract, there's nothing the company can do to him. Of course, if he leaves earlier than the notice as written in his contract, then he has to pay at most 1 month's pay. Other than that, he can report it to the MOM.

[Damienic]

He din leave earlier than the notice. The company told him they reserve the right to take back the bonus due to a stupid rule which says they entitled to do so for any employee who resigned before 31st Dec of the yr (bonus given out like on 24th and he tender like on 27-28th). Problem is, this so-called rule was not stipulated in employee handbook and it look like some kind of obscure rule which is sneaky and meant to catch employee off their guard.

 

They offer him they will not do so if he extend notice period as the department is extremely busy and they want him to be around for longer period while they look for a replacement..