Hello everybody!!! Kindly help me in drafting an annual increment letter which includes a one time bonus given to an employee or an incentive given to complete a project. Regards Aanchal
From India, New Delhi
From India, New Delhi
Hi Aanchal,
The annual increment letters vary from organisation to organisation. It doesn't having any fixed format. The most common format is:
Dear ........
................
................
................
The management is pleased to inform you that your salary has been revised w.e.f. .......... Your increased salary w.e.f. ....... stands as per the break-up given below:
You can mention the break-up as per revised structure. If the bonus/incentive is included in the CTC you can mention it in
the break-up otherwise you can write below the break-up
"Apart form the above mentioned, you will be entitled for bonus/incentive which will be.................... (the way it is to be calculated)."
The management looks forward to your continued good performance & support. Wishing You & Your family a great year ahead.
..................
..................
..................
..................
Hope it will help you in a small way.
Regards
Amit Singh
From India, Delhi
1The annual increment letters vary from organisation to organisation. It doesn't having any fixed format. The most common format is:
Dear ........
................
................
................
The management is pleased to inform you that your salary has been revised w.e.f. .......... Your increased salary w.e.f. ....... stands as per the break-up given below:
You can mention the break-up as per revised structure. If the bonus/incentive is included in the CTC you can mention it in
the break-up otherwise you can write below the break-up
"Apart form the above mentioned, you will be entitled for bonus/incentive which will be.................... (the way it is to be calculated)."
The management looks forward to your continued good performance & support. Wishing You & Your family a great year ahead.
..................
..................
..................
..................
Hope it will help you in a small way.
Regards
Amit Singh
From India, Delhi
Hey Amit, Could we also link this bonus/incentive with an employee’s conduct and discipline in office?? what do u say and how could we link it?? Cheers Aanchal
From India, New Delhi
From India, New Delhi
Hi Aanchal,
Sorry cudn't reply u before as just saw ur post. You can't link bonus or incentive to an individual's conduct & discipline as bonus is statutory and shud be given to every one equally ( a fixed % of their basic salary which may vary). As far as incentives are concerned, they are normally target-oriented i.e., depends upon the achievement of targets. As far as the conduct & discipline at work place are concerned, the effect of it can be put into action by including it in the behavioral aspect of parformance appraisal.
Hope I help u in a small way.
Regards
Amit
From India, Delhi
Sorry cudn't reply u before as just saw ur post. You can't link bonus or incentive to an individual's conduct & discipline as bonus is statutory and shud be given to every one equally ( a fixed % of their basic salary which may vary). As far as incentives are concerned, they are normally target-oriented i.e., depends upon the achievement of targets. As far as the conduct & discipline at work place are concerned, the effect of it can be put into action by including it in the behavioral aspect of parformance appraisal.
Hope I help u in a small way.
Regards
Amit
From India, Delhi
Date:
Mr...........................
.................................
............................
Dear Mr. .........,
Management has truly recognized your potential for growth with the company and thus has given you additional responsibility with great expectations. Take it as a challenge and prove your mettle.
Keeping in view the above, Management has also decided to give you a Special Performance Reward of Rs. ......./- per month w.e.f. 01.08.2006. This will be in addition to your existing TCTC.
You are aware that business has become very competitive and we have to constantly work to reduce our cost and increase our production capacity. Special emphasis has to be put in by you & your team for enhancing the raw material yield and reduction of wastage from the existing level on the one hand and improve continuously the quality of our products & services on the other hand.
We are confident that you will put in your best efforts in discharging your duties and responsibilities even more efficiently and in the best of interest of the organization and measure upto the confidence and faith reposed in you by the Management repeatedly.
All other terms & conditions of your Appointment Letter will remain unchanged.
Yours sincerely,
For ............................
Authorised Signatory
From India, Delhi
Mr...........................
.................................
............................
Dear Mr. .........,
Management has truly recognized your potential for growth with the company and thus has given you additional responsibility with great expectations. Take it as a challenge and prove your mettle.
Keeping in view the above, Management has also decided to give you a Special Performance Reward of Rs. ......./- per month w.e.f. 01.08.2006. This will be in addition to your existing TCTC.
You are aware that business has become very competitive and we have to constantly work to reduce our cost and increase our production capacity. Special emphasis has to be put in by you & your team for enhancing the raw material yield and reduction of wastage from the existing level on the one hand and improve continuously the quality of our products & services on the other hand.
We are confident that you will put in your best efforts in discharging your duties and responsibilities even more efficiently and in the best of interest of the organization and measure upto the confidence and faith reposed in you by the Management repeatedly.
All other terms & conditions of your Appointment Letter will remain unchanged.
Yours sincerely,
For ............................
Authorised Signatory
From India, Delhi
Date..............
Mr......................
........................
....................
Dear Mr. ..........,
Based on the business results, your performance for the year 2005-2006 has been found ABOVE EXPECTATION. While conveying our appreciation on your performance during the year in review, we are sure you will further put in adequate efforts to improve this performance level.
Considering the above the Management is pleased to promote you as Assistant Manager with immediate effect as well as increase your TCTC by Rs. ........./- per month w.e.f 1st September 2006 as increment for the year 2005-2006. In addition to the above, the management is also pleased to give you a Special Performance Reward of Rs. ......./- per month w.e.f. 1st October 2006. With these two increases your gross emoluments have increased from Rs. .............../- to Rs. .........../- per month TCTC. Complete detail of your TCTC is given in Annexure - A enclosed herewith.
The next review of your performance will be made, preferably on 01.09.2007, subject to the conditions found conducive by the management.
We are confident that you will put in your best efforts in discharging your responsibilities more effectively and in the best interest of the organization and will also measure up to the confidence reposed in you by the management.
Please accept our heartiest congratulations.
With best wishes,
Yours faithfully,
For.......................
Authorised Signatory
From India, Delhi
Mr......................
........................
....................
Dear Mr. ..........,
Based on the business results, your performance for the year 2005-2006 has been found ABOVE EXPECTATION. While conveying our appreciation on your performance during the year in review, we are sure you will further put in adequate efforts to improve this performance level.
Considering the above the Management is pleased to promote you as Assistant Manager with immediate effect as well as increase your TCTC by Rs. ........./- per month w.e.f 1st September 2006 as increment for the year 2005-2006. In addition to the above, the management is also pleased to give you a Special Performance Reward of Rs. ......./- per month w.e.f. 1st October 2006. With these two increases your gross emoluments have increased from Rs. .............../- to Rs. .........../- per month TCTC. Complete detail of your TCTC is given in Annexure - A enclosed herewith.
The next review of your performance will be made, preferably on 01.09.2007, subject to the conditions found conducive by the management.
We are confident that you will put in your best efforts in discharging your responsibilities more effectively and in the best interest of the organization and will also measure up to the confidence reposed in you by the management.
Please accept our heartiest congratulations.
With best wishes,
Yours faithfully,
For.......................
Authorised Signatory
From India, Delhi
Dear Mr
Management is pleased to grant you annual increment raising your basic pay from Rs. 4500/- to Rs. 5000 per month w.e.f.1.06.2007. Other terms and conditions of your service remains the same.
For indian -----ltd,
Authorised Signatory
From India, Chandigarh
Management is pleased to grant you annual increment raising your basic pay from Rs. 4500/- to Rs. 5000 per month w.e.f.1.06.2007. Other terms and conditions of your service remains the same.
For indian -----ltd,
Authorised Signatory
From India, Chandigarh
Increment Letter :
Date: ___________
[Mr./Ms._______]
[Co.]
Branch- [_________]Dear Mr./Ms. _________, The Company is pleased to inform you that your base salary has been revised to Rs._________. w.e.f. _________. The detailed Pay Structure is annexed as a part of this letter. (Annexure I (II))All the other terms and conditions of your appointment remain unchanged. We appreciate the efforts put in by you and expect that you would continue to do so in the future. Yours sincerely,For XYZ [P] Ltd.
Authorized signatory
[Name]
[Designation]
Encl.: Annexure: - Terms & Conditions (Annexure I (II))
Enclosure:-
1. Your annual compensation package consists of a gross of Rs. ____________/- Salary (Rupees ___________________ only.) per annum, Your annual Salary Break up is as follows:- Basic: Rs. _______/-, HRA: Rs. __________/-, Medical: Rs. ________/-, Conveyance: Rs. _________/- (Annexure II), with effect from the date of your joining. Income Tax /Professional Tax will be deducted each month according to the Income Tax rules as/if applicable. Each employee will be expected to take care of his/her tax planning on an individual basis. Rs. ____________/annum is your fixed salary. (From Annexure I, Terms and Condition of Employment).
Please understand that this letter spells out some of the terms and conditions of employment and that the other service rules of the company, as currently in force and as amended from time to time will be applicable to you.
I have read, understood and agree to abide by the aforesaid terms and conditions of employment.
Signature of the employee: Date:
[Name]
[Desig]
From India, Hyderabad
Date: ___________
[Mr./Ms._______]
[Co.]
Branch- [_________]Dear Mr./Ms. _________, The Company is pleased to inform you that your base salary has been revised to Rs._________. w.e.f. _________. The detailed Pay Structure is annexed as a part of this letter. (Annexure I (II))All the other terms and conditions of your appointment remain unchanged. We appreciate the efforts put in by you and expect that you would continue to do so in the future. Yours sincerely,For XYZ [P] Ltd.
Authorized signatory
[Name]
[Designation]
Encl.: Annexure: - Terms & Conditions (Annexure I (II))
Enclosure:-
1. Your annual compensation package consists of a gross of Rs. ____________/- Salary (Rupees ___________________ only.) per annum, Your annual Salary Break up is as follows:- Basic: Rs. _______/-, HRA: Rs. __________/-, Medical: Rs. ________/-, Conveyance: Rs. _________/- (Annexure II), with effect from the date of your joining. Income Tax /Professional Tax will be deducted each month according to the Income Tax rules as/if applicable. Each employee will be expected to take care of his/her tax planning on an individual basis. Rs. ____________/annum is your fixed salary. (From Annexure I, Terms and Condition of Employment).
Please understand that this letter spells out some of the terms and conditions of employment and that the other service rules of the company, as currently in force and as amended from time to time will be applicable to you.
I have read, understood and agree to abide by the aforesaid terms and conditions of employment.
Signature of the employee: Date:
[Name]
[Desig]
From India, Hyderabad
below is a sample of increment letter with Variable pay declaration & covering letter Warm Regards Suhasini
From India, Bangalore
From India, Bangalore
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