In my offer letter, this statement is written:
"With reference to the discussion and the terms of the offer, the Company is pleased to offer you a relocation bonus at XXX in Bangalore. You will be reimbursed an amount of INR 200,000 capped towards the same. Please note that this Bonus will be considered taxable income and payroll taxes will be withheld to the extent of no supportings provided. In the event that you voluntarily leave the Company within the first 12 months of joining, you will be responsible for refunding the Company the full amount of the bonus. You hereby authorize the Company to withhold this amount from any monies owed to you in such circumstances."
When I wanted to clarify, I got this email:
"I wanted to follow up from your question. Will you receive in the paycheck - YES. How much would it be - AS COMMITTED BY US IN OFFER LETTER
What would be able to claim and tax implication - Just reproducing our policy from the India document -
Relocation Policy It will be decided on a case-to-case basis at XXX India’s discretion. This reimbursement will include the air fare of employee and dependent, movement of house hold goods and stay for employee up to 14 days. The supporting for relocation expense will be exempt from tax and any balance amount as agreed in offer letter and the supportings provided will be taxed in the hands of employees."
The problem is I still didn't get how much will I receive in the relocation? Suppose I spend 50k in relocation. Will I get just 50k or 2 lacs as promised? Please explain me this. Thanks in advance.