Hi ,
The business unit in which I am working is acquired by some other company. In my current company , the gratuity eligibility period is 3 years. I have complted 2 yrs and 10 months in this organization and by the time acquisition is complete , it will be 2 yrs 11 months. Will I be eligible for the gratuity from the current employer. I was reading in some forum that in case of 5 yrs - 4 yrs 8 months is considered for eligibility. Is this case valid for 3 yrs policy also? Appreciate any information...
From India, Bangalore
The business unit in which I am working is acquired by some other company. In my current company , the gratuity eligibility period is 3 years. I have complted 2 yrs and 10 months in this organization and by the time acquisition is complete , it will be 2 yrs 11 months. Will I be eligible for the gratuity from the current employer. I was reading in some forum that in case of 5 yrs - 4 yrs 8 months is considered for eligibility. Is this case valid for 3 yrs policy also? Appreciate any information...
From India, Bangalore
As per Payment of Gratuity Act, the minimum service period to become eligible for gratuity is 5 years on Separation/ resignation matters. However, in case of death/ permanent diability, this does not apply. I haven't seen any provision to pay the gratuity on account of acquisition. As far as acquisition is concerned, normally the acquisition agreement covers the existing manpower resources, as well. Are you referring to Superannuation Fund of your existing company?
From India, Jaipur
9From India, Jaipur
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