If an employee joins a company at the age of 56 and Gratuity is included in CTC. Will he be entitled to the gratuity at retirement after 2 years? How will it be calculated?
From India, undefined
1From India, undefined
Hi, No. Any employee after completing 5 years of continuous service with the same employer will become eligible for Gratuity.
From India, Madras
From India, Madras
Ah ha!
This is why people call CTC as a scam.
The employee will not be completing 5 years on retirement so he will not be eligible for gratuity (but can get in case of his death during employment). however, they will count it as CTC and he will get less net pay.
From India, Mumbai
This is why people call CTC as a scam.
The employee will not be completing 5 years on retirement so he will not be eligible for gratuity (but can get in case of his death during employment). however, they will count it as CTC and he will get less net pay.
From India, Mumbai
Hi,
If he continues to be in the employment post his retirement, i.e., after 58 years assuming his employment status changed from regular employee to fixed term employment and if he completes five years service he will be eligible for Gratuity.
Further, he continues to be eligible for Gratuity in case of death.
Employees should negotiate their Gross Salary earnings at the time of signing the employment contract rather than admiring at the CTC figures.
-Madhukar Gani
Sr.Manager-HR
Civet Projects Pvt Ltd
From India, Visakhapatnam
If he continues to be in the employment post his retirement, i.e., after 58 years assuming his employment status changed from regular employee to fixed term employment and if he completes five years service he will be eligible for Gratuity.
Further, he continues to be eligible for Gratuity in case of death.
Employees should negotiate their Gross Salary earnings at the time of signing the employment contract rather than admiring at the CTC figures.
-Madhukar Gani
Sr.Manager-HR
Civet Projects Pvt Ltd
From India, Visakhapatnam
Community Support and Knowledge-base on business, career and organisational prospects and issues - Register and Log In to CiteHR and post your query, download formats and be part of a fostered community of professionals.
Employee Appraisal Form new.doc