Our Company has changed retirement age from 58 years to 60 years. Whether Gratuity is payable for service upto 60 years?
From India, undefined
2From India, undefined
Yes. The main condition is 5 years continuous service and not age of retirement/exit.
From India, Pune
From India, Pune
Hi
It is mandatory to pay gratuity till sixty years. An employee who completes five years continuous service is entitled for gratuity. In you case since the retirement age is changed to sixty years an employee attaining the age of sixty years is eligible for gratuity till his superannuation.
Regards
P.S.Lakshmanan
S. G. Management Services
(PAN INDIA Consultant – Labour Law Compliance,
PF, ESI, P Tax, Benefit Management &
POSH COMPLIANCE) - KOLKATA
From India, Kolkata
It is mandatory to pay gratuity till sixty years. An employee who completes five years continuous service is entitled for gratuity. In you case since the retirement age is changed to sixty years an employee attaining the age of sixty years is eligible for gratuity till his superannuation.
Regards
P.S.Lakshmanan
S. G. Management Services
(PAN INDIA Consultant – Labour Law Compliance,
PF, ESI, P Tax, Benefit Management &
POSH COMPLIANCE) - KOLKATA
From India, Kolkata
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From India, Kasaragod
From India, Kasaragod
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Retirement Age Of Workmen Changed To Sixty Years.pdf
Retirement Age Calculator 58 years.xls