This article provides guidance on resigning from a job while ensuring the receipt of a scheduled bonus. It explores the legal implications of notice periods, bonus eligibility, and employer actions.
I want to resign and my contract says I need to give two weeks’ notice. I have a scheduled bonus payout coming up in a month, so I’m planning to submit my resignation in two weeks so that my last day is on the day that the bonus is paid out. If my employer decides to walk me out on the day I give my notice and pay out my two weeks instead, would they still have to grant me my bonus? I really want to make sure I get my bonus but I don’t want to work any additional days unnecessarily.
What should I do? The least risky option is obviously to wait until you have the bonus in hand before providing notice of resignation. However, if you cannot wait, consider the following. Although not required, you should provide your employer with an e-mail or a letter of resignation indicating your last day of work. This would be helpful to you because, in Ontario, employers ought to accept a resignation on the terms on which they were provided. In other words, if you provide two weeks’ notice, your employer must honour those terms. Unless your employment contract contains terms that allow the company to waive your notice and only pay you out your statutory minimums (including your accrued wages to the last day of work), your company should not “accept” that resignation and then turn around and walk you out, only paying your two weeks. A true discretionary bonus can be withheld if you resign. As for a performance-based bonus, whether your employer must award it depends on when you become eligible for it. The terms of your employment agreement and/or the relevant bonus policy would help determine whether you had earned the bonus before you resigned or even whether resigning employees are entitled to a bonus. Before resigning, it would be worthwhile to have your employment contract and bonus documents reviewed by an experienced employment lawyer.If you have earned a bonus, you should still get that bonus even if the employer walks you out the doo
Resignation Bonus Notice Period Employment Contract Ontario Law
Canada Latest News, Canada Headlines
Similar News:You can also read news stories similar to this one that we have collected from other news sources.
BexBack Launches Double Deposit Bonus, $50 Welcome Bonus and 100x Leverage Crypto Trading No KYCAs the price of Bitcoin breaks through the $100,000 mark and returns to below $100,000, many analysts believe that it will enter a...
Read more »
Registered Technologist-Respiratory Therapist- Part Time (4)Sign On Bonus Eligibility: A one-time signing bonus of $5000 will be applicable. Only new hires are eligible for this bonus; prior employees must be separated from Sault Area Hospital for at least 6 months to be re-eligible for a sign-on bonus.
Read more »
George Stephanopoulos’ Status At ABC Takes A Surprising Turn After Trump PayoutRon Dicker is a general assignment reporter at HuffPost. He has covered sports, entertainment and many other beats in his journalism career, and has lived in New York City for more than 20 years.
Read more »
Transat's profit surges thanks to higher passenger traffic, compensation payoutMONTREAL — Transat A.T. Inc. reported a big boost in profits in its latest quarter, driven by millions of dollars in compensation from an engine maker as well as an uptick in passenger figures. Net income surged to $41.
Read more »
Transat’s profit surges thanks to higher passenger traffic, compensation payoutTransat A.T. Inc. reported a big boost in profits in its latest quarter, driven by millions of dollars in compensation from an engine maker as well as an uptick in passenger figures.
Read more »
N.S. Firefighters 50/50 raffle payout could be a record-breakerNova Scotia Firefighters put on 50/50 raffles throughout the year to raise money for volunteer fire departments across the province.
Read more »