Questions and Answers
Explain the eligibility criteria for the Retention Bonus policy in the organization.
Employees with a defined Retention Bonus component in their Offer/Appraisal letter are entitled to this bonus. The annual Retention bonus is disbursed biannually, following the completion of a 6-month period.
How is the Retention Bonus calculated for employees?
The Retention bonus is calculated as 8.33% of the employee's Cost-to-Company (CTC).
What is the Bonus Payout Schedule for the Retention Bonus policy?
Bonus payouts are made on a half-yearly basis, with cycles from April to September being paid in the October payroll, and cycles from October to March being paid in the April payroll.
Explain the scenario in which a new employee joining in the middle of a bonus cycle is not eligible for the bonus corresponding to that specific cycle.
Signup and view all the answers
What is the payment coverage for a retention bonus if an employee joins on July 16th?
Signup and view all the answers
Studying That Suits You
Use AI to generate personalized quizzes and flashcards to suit your learning preferences.
