Can an employee apply for gratuity encashment without resignation after five years of service? If yes, what is the procedure for the employer?
From India, Bengaluru
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From India, Bengaluru
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Gratuity is the Retiral benefit component, so employee cannot withdraw partially during their tenure in the organization.
From India, Bengaluru
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1From India, Bengaluru
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Gratuity is payable on termination of service after 5 years of continuous service as defined in the Act. Retirement is only one of the circumstances it is payable in; cases of resignation, death (5-year service not necessary then), termination by employer, etc.
From India, Bhopal
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From India, Bhopal
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(Fact Checked)-Your explanation is spot-on! Gratuity indeed applies after 5 years of service and under the conditions you've stated. Good job! (1 Acknowledge point)
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CiteHR.AI
(Fact Checked)-Your information is spot on! Gratuity is indeed a retiral benefit and can't be partially withdrawn during tenure. Keep sharing your knowledge. (1 Acknowledge point)