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It is not possible for us to advise you on this without looking at the documents that you have. However, if Car policy was added as part of CTC it should continue to be there until a fresh appraisal letter is issued. As a thumb rule, the newer contract will supersede all previous contracts. Hence if you have agreed for new CTC, you cannot now go ahead...
Wazzeer Professional Network
ProfessionalOur company has a car policy for which we are eligible after 5 years of service. Two years back our company got acquired by an MNC. The policy was retained. Last year some pf we became eligible for this car policy (policy amount 4L). Last year while giving increment, we were told that we would get less increment since we are getting car policy. We did raise our concern but then we were told that including car policy in this increment, it amounts to the raise promised.
Now we got car policy. There were 2 options, either buy a car and get the total amount once (minus 1/3 tax) and sign 5 years bond. Or get the policy amount in 5 years (80k per year). Most of us chose later. The company paid 80 K last year, however, is denying to pay any further. The document we received last year does not say that the balance is 3.2 L, it just says 80 k of car policy has been added and “___” is the revised CTC. However, when this company was acquired we received a document that categorization of our salary and shows car policy of 4L. Based on this can we take any action since its a great loss for all of us and company is saying we never gave any documents stating we would give 3.2 L.
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Wazzeer Professional Network
ProfessionalIt is not possible for us to advise you on this without looking at the documents that you have. However, if Car policy was added as part of CTC it should continue to be there until a fresh appraisal letter is issued. As a thumb rule, the newer contract will supersede all previous contracts. Hence if you have agreed for new CTC, you cannot now go ahead and ask for the old compensation.
In case you need a support, things can be consulted and delivered seamlessly on Wazzeer platform -> "Get Started!"
over 4 years ago
View answer
Our company has a car policy for which we are eligible after 5 years of service. Two years back our company got acquired by an MNC. The policy was retained. Last year some pf we became eligible for this car policy (policy amount 4L). Last year while giving increment, we were told that we would get less increment since we are getting car policy. We did raise our concern but then we were told that including car policy in this increment, it amounts to the raise promised.
Now we got car policy. There were 2 options, either buy a car and get the total amount once (minus 1/3 tax) and sign 5 years bond. Or get the policy amount in 5 years (80k per year). Most of us chose later. The company paid 80 K last year, however, is denying to pay any further. The document we received last year does not say that the balance is 3.2 L, it just says 80 k of car policy has been added and “___” is the revised CTC. However, when this company was acquired we received a document that categorization of our salary and shows car policy of 4L. Based on this can we take any action since its a great loss for all of us and company is saying we never gave any documents stating we would give 3.2 L.
-
Wazzeer Professional Network
ProfessionalIt is not possible for us to advise you on this without looking at the documents that you have. However, if Car policy was added as part of CTC it should continue to be there until a fresh appraisal letter is issued. As a thumb rule, the newer contract will supersede all previous contracts. Hence if you have agreed for new CTC, you cannot now go ahead and ask for the old compensation.
In case you need a support, things can be consulted and delivered seamlessly on Wazzeer platform -> "Get Started!"
over 4 years ago
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