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Dear All,
How important is acknowledgment from the employee who is receiving the final settlement to an employer/organization? Can it be deposited directly into his bank account without obtaining an authorization letter from him/her, or should the employee collect the same in person from the Finance department, or should the cheque/DD be posted through a courier? What is an acceptable norm for releasing final dues to an employee?
Thanks,
JMK
From India, Hyderabad
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How important is acknowledgment from the employee who is receiving the final settlement to an employer/organization? Can it be deposited directly into his bank account without obtaining an authorization letter from him/her, or should the employee collect the same in person from the Finance department, or should the cheque/DD be posted through a courier? What is an acceptable norm for releasing final dues to an employee?
Thanks,
JMK
From India, Hyderabad
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Typical example... Please give your verdict justifiably on this.
An employee working in a private organization gets his gratuity after completion of 58 years as per company procedure and insurance policy of gratuity to employees. However, he will continue to receive regular salary increments, promotions, and EPF recovery as usual up to the age of 70 years. After reaching 70 years, he is retired by issuing an order of retirement. He has been settled with PF and leave encashment but not paid gratuity under the pretext that it was already paid at retirement/superannuation.
The question arises whether he is eligible for gratuity until the date of his retirement, considering that he has been treated as a regular employee throughout. If gratuity is to be paid, how should it be calculated?
Nazir Ahmed AGM ADMIN in a private organization
From India, Bidar
Acknowledge(0)Amend(0)
An employee working in a private organization gets his gratuity after completion of 58 years as per company procedure and insurance policy of gratuity to employees. However, he will continue to receive regular salary increments, promotions, and EPF recovery as usual up to the age of 70 years. After reaching 70 years, he is retired by issuing an order of retirement. He has been settled with PF and leave encashment but not paid gratuity under the pretext that it was already paid at retirement/superannuation.
The question arises whether he is eligible for gratuity until the date of his retirement, considering that he has been treated as a regular employee throughout. If gratuity is to be paid, how should it be calculated?
Nazir Ahmed AGM ADMIN in a private organization
From India, Bidar
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