Confusion about dividend and Bonus.

s_saini · Post by **s_saini** » Mon Sep 29, 2008 12:51 pm

Dear All,

My covering time period for salary is from Oct 2007 - Sep 2008.
I have 34000 as bonus which is given at the end of the Year in two installments. One in Feb and other in Aug.(i.e. I recive 17000 in feb 2008 and 17000 in Aug)

Now please guide me what document I have to show for this bcz salary slip does not include this entry.

Thx in advance.

Regards

xen400 · Post by **xen400** » Mon Sep 29, 2008 1:55 pm

I too am in a similar situation

The guidance notes clearly states that whatever you claim points for should show up on your payslip, otherwise no points will be awarded

When I called their call centre the advisor said that I can use it as long as I have a certificate (proof) from my employer, the second time I called the advisor said I can use even a certificate for bonus only if it has been taxed and the third time I was firmly told that there was no way I can claim points for something that is not on my payslip!

Amidst all this confusion what I'll be doing is getting a letter from my employer instead of using any payslips at all. I'm not sure whether this will work or not but it's the only go I've got

s_saini · Post by **s_saini** » Tue Oct 07, 2008 12:02 pm

But under 106 peragraph in tier1 guidelines.

106. Earnings may include, among other things:
Salaries (includes full time, part time, and bonuses)

My Salary includes a fixed part of Bonus payable at the end of every six months but this is not mentioned on the salary slip. This Bonus is mentioned on my offer letter as part of my Salary Package.

Does this mean We can include bonus in our salary package?
If yes what document should I provide.

kmunir · Post by **kmunir** » Tue Oct 07, 2008 12:53 pm

Hi.

I also receive annual bonus at the end of each year but it is mentioned on the slary slip of the month with which the bonus amount is transferred into my salary account. Anything not declared on your salary slip (if you are an employed) cannot be included in your earnings as you cannot prove this amount with alternate pieces of evidence.

s_saini · Post by **s_saini** » Tue Oct 07, 2008 1:34 pm

Can we consider Bonus as dividend?
Can I provide bonus document along with salary slip?

As per guide lines from tier1

122. Supporting documents must show all the relevant
earnings claimed by the applicant. If earnings from a
particular source have been paid in more than one way,
the applicant must send two types of document for
each part of the payment claimed.
Supporting documents must show all the relevant
earnings claimed by the applicant. If earnings from a
particular source have been paid in more than one way,
the applicant must send two types of document for
each part of the payment claimed.

For example: An applicant has been paid for his/
her salaried employment by means of a salary and
a dividend. If the gross and net dividend payments
are included on the applicantâ€™s payslip, and can be
supported by details of the net dividend payment on
the applicantâ€™s bank statements, the applicant
could submit bank statements and payslips as
supporting evidence for both the salary and the
dividend claimed. However, if the dividend details
are not included on the payslips, the applicant must
also send separate dividend vouchers to support the
dividend payments and cross-reference these with the
bank statements he/she provides.

s_saini · Post by **s_saini** » Wed Oct 08, 2008 12:41 pm

Hi my HR give note on the salary slip that this amount of bonus is distributed. But does not change the Net and Gross amount.
Will this work?

republique · Post by **republique** » Wed Oct 08, 2008 5:46 pm

s_saini wrote:Hi my HR give note on the salary slip that this amount of bonus is distributed. But does not change the Net and Gross amount.
Will this work?

what do you mean it does not change the net and gross amt.
You show your bonus as income via your p60.
dividends are not automatically considered as a bonus
but a bonus can be a dividend.

s_saini · Post by **s_saini** » Wed Oct 08, 2008 8:41 pm

Total Net and Gross Amount is not changed in my salary structuer.

But My HR Give Note on the buttom of Salary slip that
xxxx.xx Amount as bonus is Disbursed with this month of salary.
Will this work?

Along with that she give me separate document which states that bonus of xxxxx.xx amount is distributed with Feb 08 and Aug 08 month salary.

republique · Post by **republique** » Wed Oct 08, 2008 9:41 pm

s_saini wrote:Total Net and Gross Amount is not changed in my salary structuer.

But My HR Give Note on the buttom of Salary slip that
xxxx.xx Amount as bonus is Disbursed with this month of salary.
Will this work?

Along with that she give me separate document which states that bonus of xxxxx.xx amount is distributed with Feb 08 and Aug 08 month salary.

see and make use of previous post

s_saini · Post by **s_saini** » Fri Oct 10, 2008 4:12 pm

Thx a lot for your reply.

What p60 does not cover entier time period claimed?

republique · Post by **republique** » Fri Oct 10, 2008 5:41 pm

s_saini wrote:Thx a lot for your reply.

What p60 does not cover entier time period claimed?

That always happens.

need_a_tier1 · Post by **need_a_tier1** » Sat Oct 11, 2008 2:08 am

same problem here.....

I have had some employee stock options income in the past 12 months, which is shown on my payslip(both gross & net) and proper tax has also been deducted.

My understaning is that, as employee stock options are part of my benefits package, the stock option income should be part of my earnings.

Can any senior member comment on this?

Thanks

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Confusion about dividend and Bonus.

Confusion about dividend and Bonus.