What is a joining bonus letter?
The joining bonus letter is created to grant the money to an employee for entering the firm earlier than the date specified in your offer letter, and it is not included in the pay or package guaranteed to you in your letter of intent or offer letter.
How to create a joining bonus letter online?
- Click on Generate Now button and answer few questions.
- Our system will automatically create a joining bonus letter for you.
- Pay a nominal fees of INR 19 to support our system.
- Download the document and send it to your employee.
Yes, it is that simple. You don’t need to find how to create a joining bonus letter or format of joining bonus letter. Just answer few questions and download your document.
What actually is the joining bonus?
Joining Bonus (or Sign-on bonus) is the bonus that the company pays you when you join the company. It is generally around 10% of your CTC.
Understand that it will not be paid every year. It is mostly used to stuff the CTC to show that the package is very good.
Some companies also offer a relocation bonus when you are changing cities. It is either paid directly or reimbursed on submitting receipts depending on what is mentioned in the offer letter.
Some companies also offer a retention bonus which is a fixed amount paid at the end of every year and is generally equal to the joining bonus.