Bonus Salary

[saqib95]

Hi,

Will the HSMP team consider a bonus salary paid to an individual (shown on a proper pay slip and tax paid against it) as an earned income i.e. 13 pay slips (12 salaries+1 bonus salary) in last 12 months. Is this OK?

[gorajim]

Hi,

You have two options (maybe more, but can't think of any right now):

1. The guidelines say:

Any evidence submitted for dates outside of the period claimed will not be taken into account for the purposes of awarding the applicant points in this area.

Therefore, you may explain in a covering letter that the total amount was earned within your claim period only, and also matches the ITR Amount.


2. We have been given to understand (from previous posts in this forum) that the 12 month payslip requirement is strict. Under such circumstances, is it possible to ignore one of your regular monthly payslips and use the "Bonus Payslip" as the 12th payslip? My company pays peanuts for Bonus, but most other companies provide hefty bonuses and it could offset the impact of not using one of the regular monthly payslips.

Ofcourse the amount calculated this way will not match the ITR, for which you may need to provide Bank Statements etc and request exceptional consideration.



I can appreciate how you feel sitting there trying to work round your predicament. If push came to shove, I would have goen with option 1 above. Be honest and truthful and make them see the point - which should be easy if you use the dates on the payslips and your corroborating ITR.

All the best, mate.

[saqib95]

[quote="gorajim"]Hi,

You have two options (maybe more, but can't think of any right now):

1. The guidelines say:

Any evidence submitted for dates outside of the period claimed will not be taken into account for the purposes of awarding the applicant points in this area.

Therefore, you may explain in a covering letter that the total amount was earned within your claim period only, and also matches the ITR Amount.

Hi ,

Thanks. Well in my case it is more convinient to show that the bonus was paid within the period claimed and proper income tax was deducted. This will make 12 regular pay slips and one bonus pay slip for the claimed 12 months. I guess this is what you are recommending.