Hi Team,
I have completed 5yrs in the current organization and continuing in the same, since i completed 5yrs service is it possible to withdraw gratuity amount while in the same company/service and continue in the same organization.
when i asked my HR they said, 'as per GO you will get gratuity amount only when you leave from the organization' - is it true? i need some money as an urgent base so im plng to withdraw my gratuity.
If its possible, i will take my 5yrs gratuity amount and continue in the same organization, then later after 2yrs if i want to leave from orgnization will i get for remaining 2yrs gratuity amount? please reply and help me asap.
Thanks in advance
manucse
From India, Bangalore
I have completed 5yrs in the current organization and continuing in the same, since i completed 5yrs service is it possible to withdraw gratuity amount while in the same company/service and continue in the same organization.
when i asked my HR they said, 'as per GO you will get gratuity amount only when you leave from the organization' - is it true? i need some money as an urgent base so im plng to withdraw my gratuity.
If its possible, i will take my 5yrs gratuity amount and continue in the same organization, then later after 2yrs if i want to leave from orgnization will i get for remaining 2yrs gratuity amount? please reply and help me asap.
Thanks in advance
manucse
From India, Bangalore
No, you can't. Gratuity is the benefit when you are leaving the company the management will pay you along with your final settlement. There is no provision for getting gratuity in between the service.
Regards - kamesh
From India, Hyderabad
186Regards - kamesh
From India, Hyderabad
Dear Manucse, Its true as above , you can’t apply for gratuity until you are in company and if you have any urgent means you can apply for PF loan. Consult your HR, they will guide u.
From India, Madras
From India, Madras
Dear Manucse,
Refer to your query on Gratuity, you cannot permitted to receive the benefit under Gratuity in the course of employment after completion of eligibility criteria.Gratuity is payable after completion of 5 years continuous service at the time of leaving from the company on the grounds of Resignation, Retirement, Reaching the age of superannuation, a contract between employee and employer for specific period etc., u/s 4 of PG Act -1971 Rules.
Regards
V R RAO PULIPAKA
09666051720.
From India, Bangalore
Refer to your query on Gratuity, you cannot permitted to receive the benefit under Gratuity in the course of employment after completion of eligibility criteria.Gratuity is payable after completion of 5 years continuous service at the time of leaving from the company on the grounds of Resignation, Retirement, Reaching the age of superannuation, a contract between employee and employer for specific period etc., u/s 4 of PG Act -1971 Rules.
Regards
V R RAO PULIPAKA
09666051720.
From India, Bangalore
Gratuity is not your Contribution in any way. It is the liability of the employer as per law and they have to pay it when an employee leaves the Company as a means to express their gratitude for your services for a long period of time.
You have no right to claim it as per your need.
In case you need funds, you can withdraw an amount from your Provident Fund accumulation or a take a loan from PF.
Thanks & Regards,
Avika Kapoor
Kapgrow Corporate Advisory Services Pvt Ltd
From India, New Delhi
You have no right to claim it as per your need.
In case you need funds, you can withdraw an amount from your Provident Fund accumulation or a take a loan from PF.
Thanks & Regards,
Avika Kapoor
Kapgrow Corporate Advisory Services Pvt Ltd
From India, New Delhi
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Payment of Gratuity Act, 1972 & The Rules.ppt
FORM - F (TN Payment of Gratuity Rules, 1973).xls
Abstract of PAYMENT OF GRATUITY ACT & RULES, 1972, FORM U[1].doc