Can somebody throw light on RETIRALS? I am new to the recruitment arena and I came across this term in my candidate’s salary slip...Was curious!
From India, Lucknow
From India, Lucknow
I think with Retirals they ment the benefits given at the time of Ritirement or Exit. Check it with the candidate. Regards, Sreeknath
From United States
From United States
Hi,
Retirals are basically be one of the salary components as part of the Employees salary.
These are the purily the deduction elements which are also be seen as long term retirement benefits.
Some of the elements of retirsla are -
PF (Providens Fund)
ESI
Gratuity
Superannuation
Most of the above are statutory requirements based on the size of the company. For further details you can refer
The Employee's Provident Funds Act ,1952,
Employees’ State Insurance Act, 1948,
The Payment of Gratuity Act, 1972 , and
Contributions Tax (Assessment and Collection) Act of Labor laws.
Regards
Nisha Binner
HR Manager
1Retirals are basically be one of the salary components as part of the Employees salary.
These are the purily the deduction elements which are also be seen as long term retirement benefits.
Some of the elements of retirsla are -
PF (Providens Fund)
ESI
Gratuity
Superannuation
Most of the above are statutory requirements based on the size of the company. For further details you can refer
The Employee's Provident Funds Act ,1952,
Employees’ State Insurance Act, 1948,
The Payment of Gratuity Act, 1972 , and
Contributions Tax (Assessment and Collection) Act of Labor laws.
Regards
Nisha Binner
HR Manager
Dear Sender,
Retirals means the benefits payable at the time of Retirement.
For e.g.
1. payment of Gratuity (paid by employer on the total service render)
2. Leave Encashment ( no. of paid leave encash by Emloyer)
3. Provident Fund - total PF contribution paid by PF office in lumsum.
4. Pension - monthly pension paid by P.F. office till survival and thereafter his nominees. like wife, children.
5. Superannuation- If co. have the superannuation policy, then monthly pension paid by company.
Somebody mentioned about ESIC in reply. There will be no ESI benefit given at the time retirement unless any disablement.
If any query, send mail-
regs,
Bhushan Dahanukar
Mumbai
From India, Mumbai
Retirals means the benefits payable at the time of Retirement.
For e.g.
1. payment of Gratuity (paid by employer on the total service render)
2. Leave Encashment ( no. of paid leave encash by Emloyer)
3. Provident Fund - total PF contribution paid by PF office in lumsum.
4. Pension - monthly pension paid by P.F. office till survival and thereafter his nominees. like wife, children.
5. Superannuation- If co. have the superannuation policy, then monthly pension paid by company.
Somebody mentioned about ESIC in reply. There will be no ESI benefit given at the time retirement unless any disablement.
If any query, send mail-
regs,
Bhushan Dahanukar
Mumbai
From India, Mumbai
Hi
Retirals means the benefit you receive at the time of exit / retirement.
The following components come under retirals:
* PF (Provident Fund)
* FPF (Family Pension Fund)
* Gratuity
* Superannuation
* Leave Encashment, if any
All the above retiral components are contributed to the employee account by the employer.
Regards
Bharathi
Retirals means the benefit you receive at the time of exit / retirement.
The following components come under retirals:
* PF (Provident Fund)
* FPF (Family Pension Fund)
* Gratuity
* Superannuation
* Leave Encashment, if any
All the above retiral components are contributed to the employee account by the employer.
Regards
Bharathi
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.
Light-graffiti3 -400x267.jpg
Manual of the Warrior of Light.pps