I have joined my organisation on 07.01.2012 and wish to leave on 07.12.2016. I want know whether I am eligible for EPF withdrawl and Gratuity ! If yes quantum of withdrawl .
From India, Angul
From India, Angul
EPF is always the asset of empoyee, has has every right on the fund, to transfer it to new EPF account or withdraw ( at the age of 58)
regarding gratuity, one has to check that that establishment is liable to gratuity or not.
632regarding gratuity, one has to check that that establishment is liable to gratuity or not.
Under Section 4 of the payment Gratuity Act 1972 gratuity shall be payable to an employee on the termination of his employment after he has rendered continuous service for not less than 5 years.
Termination of employment may result from
superannuation,
retirement,
resignation,
death,
disablement due to accident/disease.
As held in the case of darshan Engineering Works vs controlling authority where an employee continues to work after superannuation he will be entitled to gratuity for the entire period and not only up to his superannuation.
Under explanation to section 4(1) disablement means such disablement as incapacitate an employees from the work which he was capable of performing before the accident or disease resulting in such disablement. Under Section 4(4) if an employee continue in his is current employment after disablement at reduced wages, the gratuity for the period upto his disablement is to be calculated at such wages as he was being paid before disablement. The gratuity for the period after disablement is to be calculated on such reduced wages.
Under provision 1 to Section 4(1), the provision of continuous service of 5 years shall not be necessary where did termination of employment happened due to death or disablement. In case of death the amount of gratuity be paid to the nominee. If there was no nomination made gratuity shall be paid to the heir. Where the nominee or heir is a minor then the amount of gratuity shall be submitted to the controlling authority. The minor can use this fund when he attains majority.
Continuous service is defined under section 2-A, means a period of uninterrupted service including service which may be interrupted on account of
sickness,
accident,
leave,
layoff,
strike,
Lockout,
cessation of work not due to any fault of the employees and
Absence from duty without leave(not being absence in respect of which an order treating the actions as break in service has been passed in accordance with d standing orders, rules or regulations governing the employees of the establishment).
For Complete Details see Indian Labour Laws & Shram Suvidha Simplified
From India, Kolkata
Termination of employment may result from
superannuation,
retirement,
resignation,
death,
disablement due to accident/disease.
As held in the case of darshan Engineering Works vs controlling authority where an employee continues to work after superannuation he will be entitled to gratuity for the entire period and not only up to his superannuation.
Under explanation to section 4(1) disablement means such disablement as incapacitate an employees from the work which he was capable of performing before the accident or disease resulting in such disablement. Under Section 4(4) if an employee continue in his is current employment after disablement at reduced wages, the gratuity for the period upto his disablement is to be calculated at such wages as he was being paid before disablement. The gratuity for the period after disablement is to be calculated on such reduced wages.
Under provision 1 to Section 4(1), the provision of continuous service of 5 years shall not be necessary where did termination of employment happened due to death or disablement. In case of death the amount of gratuity be paid to the nominee. If there was no nomination made gratuity shall be paid to the heir. Where the nominee or heir is a minor then the amount of gratuity shall be submitted to the controlling authority. The minor can use this fund when he attains majority.
Continuous service is defined under section 2-A, means a period of uninterrupted service including service which may be interrupted on account of
sickness,
accident,
leave,
layoff,
strike,
Lockout,
cessation of work not due to any fault of the employees and
Absence from duty without leave(not being absence in respect of which an order treating the actions as break in service has been passed in accordance with d standing orders, rules or regulations governing the employees of the establishment).
For Complete Details see Indian Labour Laws & Shram Suvidha Simplified
From India, Kolkata
Yes you are eligible for EPF and Gratuity for quantum of withdrawal of EPF please check your PF statement, for gratuity you have to do the calculation or let the forum know the salary details. Please be informed that you are short by 1 month for completion of 5 years but if the company agrees on the judgement of 4 years and 240 days
From India, Ahmadabad
From India, Ahmadabad
My current Basic is Rs 18500 and DA is 114.5 %. I joined this esteemed organization on 07.01.2012. Planned to resigned on 7 December 2016. This is a PSU. What is the quantum of gratuity I can get. It is said that PF contribution if withdrawal before 5 years then is liable to TDS. So is my tenure of job in case of EPF is also attracting TDS ?
From India, Angul
From India, Angul
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EPF,ESIC & GRATUITY .xls
EPF Withdrawals - New Provisions & Rules related to TDS.pptx