My self Preetha Pradeep working as HR. I need a format of indemnity bond to be collected from the deceased employee legal heirs. We have to pay the final dues ( F& F - gratuity)
From India, Mumbai
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From India, Mumbai
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Hi,
Please collect all proofs from the legal heirs like the legal heir certificate, marriage registration certificate, and a joint photograph of the deceased (employee) with the spouse. You may use the following format, but this is only a supporting document.
We, ______ (Father), ________ (Mother), _____ (wife), and _____ (Daughter/Son) of Late.____ respectively, hereby declare that Late.____, who had worked in your organization, passed away on ______ at ______, due to _______. He is survived by his Wife ___, Daughter ___, Father ___, and Mother ___. We are all Late._____ dependents. We hereby request M/s._____ to release all eligible legal dues, including the Gratuity amount, in the following manner, and we have no objection to the following distribution:
1. Father's share Rs.___ in the name of Father "____"
2. Mother's share Rs.___ in the name of Mother "___"
3. Wife's share Rs.___ in the name of Wife "___"
4. Baby's share Rs.____ in the name of the Baby's Mother, named "______"
We agree and confirm to you that we shall make no other monetary claim or otherwise of any nature towards any dues from M/s._____.
Date: _________________
(_____)
_____________________
(_______)
_____________________
(________)
In case of a dispute among nominees in sharing the settlement amount, ask them to approach the civil court and come with a court order. The court will examine the background of nominees and advise the % of settlement to be paid to each nominee.
From India, Madras
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1153Please collect all proofs from the legal heirs like the legal heir certificate, marriage registration certificate, and a joint photograph of the deceased (employee) with the spouse. You may use the following format, but this is only a supporting document.
We, ______ (Father), ________ (Mother), _____ (wife), and _____ (Daughter/Son) of Late.____ respectively, hereby declare that Late.____, who had worked in your organization, passed away on ______ at ______, due to _______. He is survived by his Wife ___, Daughter ___, Father ___, and Mother ___. We are all Late._____ dependents. We hereby request M/s._____ to release all eligible legal dues, including the Gratuity amount, in the following manner, and we have no objection to the following distribution:
1. Father's share Rs.___ in the name of Father "____"
2. Mother's share Rs.___ in the name of Mother "___"
3. Wife's share Rs.___ in the name of Wife "___"
4. Baby's share Rs.____ in the name of the Baby's Mother, named "______"
We agree and confirm to you that we shall make no other monetary claim or otherwise of any nature towards any dues from M/s._____.
Date: _________________
(_____)
_____________________
(_______)
_____________________
(________)
In case of a dispute among nominees in sharing the settlement amount, ask them to approach the civil court and come with a court order. The court will examine the background of nominees and advise the % of settlement to be paid to each nominee.
From India, Madras
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Hi,
In case of a dispute among nominees (mostly between in-laws and daughter-in-law if the deceased is male), if they are not able to arrive at a compromise, advise them to approach the court for a succession certificate. A succession certificate is a document issued by a competent civil court certifying a rightful person to be the successor of a deceased individual. This certificate authorizes the successor(s) to realize the debts and securities of the deceased person.
From India, Madras
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In case of a dispute among nominees (mostly between in-laws and daughter-in-law if the deceased is male), if they are not able to arrive at a compromise, advise them to approach the court for a succession certificate. A succession certificate is a document issued by a competent civil court certifying a rightful person to be the successor of a deceased individual. This certificate authorizes the successor(s) to realize the debts and securities of the deceased person.
From India, Madras
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As regards gratuity, if there is no subsisting nomination, then the proper course is to deposit the amount with the Controlling Authority under the PGA 1972 (The local Labour Officer) and also furnish the full details of the family members available with you. Such authority has the legal power to pay the gratuity to the family members.
As regards F&F settlement, it can be paid to the family members and an Indemnity Bond can be used, but its practical utility is suspect.
From India, Mumbai
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As regards F&F settlement, it can be paid to the family members and an Indemnity Bond can be used, but its practical utility is suspect.
From India, Mumbai
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Dear Citehr Member Ms. Preetha,
It may be noted that full and final settlement in the event of death has to be decided on the basis of nomination made by the employee in respect of PF, etc. Care should be taken to obtain the copies of proof of identity documents, e.g., Aadhar Card, etc., of the nominated persons. Although there is no legal requirement to obtain an indemnity bond when valid nomination(s) exist on record, it is advisable to be on the safer side to obtain an indemnity bond. The format given above will serve the general purpose requirement; however, an Indemnity Bond specific for the purpose is more detailed and can be obtained from the legal department of your company/legal consultant or by a request from us.
It is also relevant to mention that in cases where there is no valid nomination, then it is definitely advisable either to obtain a Surviving Member Certificate issued by the District Administration or a succession certificate from the court of law.
You are requested to validate the opinion posted on this thread in reply to your query.
Chandramani Lal Srivastava
Master Consultant
9315516083
email: srivastavacmlal@gmail.com
New Delhi/22.11.2022/10:23 pm
From India, New Delhi
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It may be noted that full and final settlement in the event of death has to be decided on the basis of nomination made by the employee in respect of PF, etc. Care should be taken to obtain the copies of proof of identity documents, e.g., Aadhar Card, etc., of the nominated persons. Although there is no legal requirement to obtain an indemnity bond when valid nomination(s) exist on record, it is advisable to be on the safer side to obtain an indemnity bond. The format given above will serve the general purpose requirement; however, an Indemnity Bond specific for the purpose is more detailed and can be obtained from the legal department of your company/legal consultant or by a request from us.
It is also relevant to mention that in cases where there is no valid nomination, then it is definitely advisable either to obtain a Surviving Member Certificate issued by the District Administration or a succession certificate from the court of law.
You are requested to validate the opinion posted on this thread in reply to your query.
Chandramani Lal Srivastava
Master Consultant
9315516083
email: srivastavacmlal@gmail.com
New Delhi/22.11.2022/10:23 pm
From India, New Delhi
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Indemnity Bond - Format.doc