Hi Welcome to JustAnswer. My first response will follow shortly. Please feel free to follow up if anything is not clear
That is an offer and acceptance, and binding on the employer as a contract. So you are entitled to insist on the performance
Do you mean I am entitled to insist on the benefits? (not performance..) If one of these benefits was a profit share that has not been paid to me, if this went to court would they have to show information relating to the company finances therefore outlining the profit share that was due, but not paid?
It may depend on the wording-if there was no profit then you may not get a share, but otherwise you are entitled to get what was promised. And the formula for calculating the share would need to be explicit, say 5% or whatever was promised
Yes there was profit, and I am supposed to get a certain percentage of that. An excuse was made last year, that I did not get the profit share due to imputation credits the company had to pay? does this seem legitimate?
Imputation credits are a book exercise usually. This means the profits are real but this is used to reduce tax liability. So it does appear an excuse. So I think if they are doing this then if you are in a position to do so, move on as they are just playing games
I may be wrong-without seeing the accounts and details, it is hard to be definite but it sounds like an excuse.
yes I think so too, was just waiting to see what happened at the end of this financial year once books were done and dividends paid out. If I do not receive my profit share what would you suggest I do after talking to my employer?
I suggest you will need to raise a personal grievance over the decision-and tell them this.
OK Thanks for your help
DISCLAIMER: Answers from Experts on JustAnswer are not substitutes for the advice of an attorney. JustAnswer is a public forum and questions and responses are not private or confidential or protected by the attorney-client privilege. The Expert above is not your attorney, and the response above is not legal advice. You should not read this response to propose specific action or address specific circumstances, but only to give you a sense of general principles of law that might affect the situation you describe. Application of these general principles to particular circumstances must be done by a lawyer who has spoken with you in confidence, learned all relevant information, and explored various options. Before acting on these general principles, you should hire a lawyer licensed to practice law in the jurisdiction to which your question pertains.
The responses above are from individual Experts, not JustAnswer. The site and services are provided “as is”. To view the verified credential of an Expert, click on the “Verified” symbol in the Expert’s profile. This site is not for emergency questions which should be directed immediately by telephone or in-person to qualified professionals. Please carefully read the Terms of Service (last updated February 8, 2012).