Bonus Entitlement - am I stuffed?
Discussion
Help!
Advice needed from 'in the know' individuals.
I have been working with my current company since November 2004, I handed in my 4 week notice on the 30th of August this year.
Our company has been going through a sale for the past few months, the company was sold on the 2nd of September this year (3 days after I handed in my notice)
There is a bonus scheme (for when the sale was finalised) for eligible employees that states.
For eligible (*) employees who have been continuously employed from 1 July 2009 until 2 September 2011, the (bonusname) premium amounts to 2.75 months (**) of the monthly base guaranteed salary (subject to regulatory social contributions and personal income tax deductions where applicable). It will be paid on September payroll.
(*) Employees meeting one of the following two conditions are eligible to (bonusname):
1) Possess a valid contract of employment (and not be on a trial period) at the end of the sale.
2) Have left the Company since July 1, 2009 due to retirement or end of contract at the initiative of the employer (except for serious misconduct or disciplinary reasons)
(**) In case of incomplete employment or inactive periods of employment from 1 July to 2 September 2011, the premium of 2.75 months will be paid on a time-prorated basis. Details are available through your local HR Department.
What I would like to know is, do I fall into category 1 of the eligibility criteria as I am still employed? Or do I get squat because I handed my notice in 3 days prior?
I would've thought my contract does not change when I hand my notice in, I am still an employee of the company when the sale was finalised. Am I wrong??
Of course hindsight is a wonderful thing, and I could have held off for a few days before handing my notice in. But to miss out on 2.75 months salary bonus by 3 days is sickening!
Help PH!
Advice needed from 'in the know' individuals.
I have been working with my current company since November 2004, I handed in my 4 week notice on the 30th of August this year.
Our company has been going through a sale for the past few months, the company was sold on the 2nd of September this year (3 days after I handed in my notice)
There is a bonus scheme (for when the sale was finalised) for eligible employees that states.
For eligible (*) employees who have been continuously employed from 1 July 2009 until 2 September 2011, the (bonusname) premium amounts to 2.75 months (**) of the monthly base guaranteed salary (subject to regulatory social contributions and personal income tax deductions where applicable). It will be paid on September payroll.
(*) Employees meeting one of the following two conditions are eligible to (bonusname):
1) Possess a valid contract of employment (and not be on a trial period) at the end of the sale.
2) Have left the Company since July 1, 2009 due to retirement or end of contract at the initiative of the employer (except for serious misconduct or disciplinary reasons)
(**) In case of incomplete employment or inactive periods of employment from 1 July to 2 September 2011, the premium of 2.75 months will be paid on a time-prorated basis. Details are available through your local HR Department.
What I would like to know is, do I fall into category 1 of the eligibility criteria as I am still employed? Or do I get squat because I handed my notice in 3 days prior?
I would've thought my contract does not change when I hand my notice in, I am still an employee of the company when the sale was finalised. Am I wrong??
Of course hindsight is a wonderful thing, and I could have held off for a few days before handing my notice in. But to miss out on 2.75 months salary bonus by 3 days is sickening!
Help PH!
southendpier said:
you are still employed at 2 sept. BONUS TIME is how i read it.
Technically when or was their written acceptance of your resignation from the employer?
Can you retract?
The written acceptance of my resignation was the same day as the sale. The 2nd of September.Technically when or was their written acceptance of your resignation from the employer?
Can you retract?
ETA: My last working day will be the 27th of September, which in my eyes is when my valid contract ends. They acknowledge my last working day on this acceptance letter.
Edited by Silverbullet767 on Wednesday 7th September 21:14
Guess what....
Today they have issued a 'detailed eligibility criteria'
It's written in broken English, and I can't make out what it's trying to say.
It reads.
Q. Am I eligible for (bonusname)?
A. If you fulfil the following criteria you are eligible for the discretionary payment:
a) You are a permanent or fixed term employee of (Company Name)
b) You have satisfactorily completed your probationary period before 2nd September 2011 or have completed more than 183 days as a fixed term employee.
c) You have not resigned at the time of payment and are working your notice period, unless this resignation is for retirement purposes.
This is really confusing, as it says to me, I am eligible if c) I have not resigned at the time of payment (payment is due before my last working day)
Today they have issued a 'detailed eligibility criteria'
It's written in broken English, and I can't make out what it's trying to say.
It reads.
Q. Am I eligible for (bonusname)?
A. If you fulfil the following criteria you are eligible for the discretionary payment:
a) You are a permanent or fixed term employee of (Company Name)
b) You have satisfactorily completed your probationary period before 2nd September 2011 or have completed more than 183 days as a fixed term employee.
c) You have not resigned at the time of payment and are working your notice period, unless this resignation is for retirement purposes.
This is really confusing, as it says to me, I am eligible if c) I have not resigned at the time of payment (payment is due before my last working day)
Some good words of advice there louie.
But if you have been working where I have for a the past few years, you wouldn't mind burning a few bridges, HR in our division have had around 10+ grievances lodged against them in the last year alone, 1 of which was mine, it was even ignored by the HR director in head office. I wont go into details, but I got an official warning for my personal property being located on public land.
They are also currently screwing several employees regarding wages as I type this, the last of which was yesterday.
Thanks again, but I'm going to see this one through.
But if you have been working where I have for a the past few years, you wouldn't mind burning a few bridges, HR in our division have had around 10+ grievances lodged against them in the last year alone, 1 of which was mine, it was even ignored by the HR director in head office. I wont go into details, but I got an official warning for my personal property being located on public land.
They are also currently screwing several employees regarding wages as I type this, the last of which was yesterday.
Thanks again, but I'm going to see this one through.
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