Outline ·
[ Standard ] ·
Linear+
contractual bonus, i need explanation
|
TScrazeetechcrew
|
 Aug 26 2013, 02:58 PM, updated 13y ago
|
Getting Started
|
as per aggrement,
7. Bonus and insentives,
7.1 You shall be entitled to a contractual annual bonus package of 1 month and;
7.2 An annual performance bonus package subject to identified and agreed key performance targets agreed and met, which will be govern seperately under Human Recources and Performance Policy of the Company, The performance bonus package will require a majority Board of Dirrector approval.
my question is should i entitled the contractual bonus base on company situation or it compulsory for them to pay even the company unprofitable, the question base on above aggrement. can some one help me?
my boss said entitlement base on 7.2 becouse 7.1 related to 7.2 agreement, what is antual contractual bonus mean actually?
|
|
|
|
|
|
TScrazeetechcrew
|
Aug 27 2013, 10:16 AM
|
Getting Started
|
QUOTE(DarkAeon @ Aug 26 2013, 05:24 PM) if my english works, it seems the two clauses are not dependant of each other that the problem, my bos said it related each other |
|
|
|
|
|
TScrazeetechcrew
|
Aug 27 2013, 11:04 AM
|
Getting Started
|
QUOTE(wenkiat84 @ Aug 26 2013, 03:13 PM) You are entitled to the so called "contractual bonus" of 1 month regardless the company is making profit or loss. Contractual bonus is not exactly a bonus. Normally 4 weeks = 1 month. And we work 52 weeks in a year which translates into 13 months. As companies in Malaysia practice payroll in monthly basis and not weekly basis (like in England), they package the 13th salary as so called "contractual bonus". However, this contractual bonus is not mandatory but most of the established MNCs have this practice. As for 7.2, this is depending on your individual performance as per agreed between you and your superior (your KRA and KPI). Overall company's performance is also taken into account normally as a multiplier to your performance index. Hope this explains it all. LYN members, correct me if I'm wrong. thanks for explanation, im waiting for this kind of respond, +ve to me... |
|
|
|
|
|
TScrazeetechcrew
|
Aug 27 2013, 11:56 AM
|
Getting Started
|
QUOTE(WaCKy-Angel @ Aug 27 2013, 11:52 AM) Contractual bonus = compulsory, regardless the company making profit or loss. that what im understand, bt he still relate 7.1 with 7.2 just because theres a ";" at the end of 7.1 sentence instead of "." |
|
|
|
|
Quote
0.0175sec
0.50
6 queries
GZIP Disabled