As an entrepreneur if I have to return the amount of Gratuity of those employees who have not served for more than 5 yrs what I have to do for this? How can I save this amount which is going to laps.
From India, Jaipur
From India, Jaipur
dear gratuity is paid to employees who has completed five years of service in a organisation.your question is not clear. tks j s malik
From India, Delhi
167From India, Delhi
Correct it is paid to the employees who had served for 5 yrs, but what for those who have put 4 years of service?
1. Is there any mean by which one can get there money back?
2. what an organization can do in this regards?
From India, Jaipur
1. Is there any mean by which one can get there money back?
2. what an organization can do in this regards?
From India, Jaipur
As an employer you are not bound to pay gratuity to employees who served less than the qualifying period of 5 years. The employees can not claim the amount also.
If you have provided as sum every year with a view to finding funds available for payment of gratuity, by any means including investment in mutual funds as are available now a days, the same could be regarded as an appropriation of Profit (with a debit to Profit & Loss Account) If the same is not utilised, naturally, it will remain as your fund with all attributes of undistributed profit. It will not lapse but will be an investment only.
Regards,
Madhu.T.K
From India, Kannur
If you have provided as sum every year with a view to finding funds available for payment of gratuity, by any means including investment in mutual funds as are available now a days, the same could be regarded as an appropriation of Profit (with a debit to Profit & Loss Account) If the same is not utilised, naturally, it will remain as your fund with all attributes of undistributed profit. It will not lapse but will be an investment only.
Regards,
Madhu.T.K
From India, Kannur
Hi,
Your question is not clear to me. Why should you return the gratuity of persons who have not served for 5 years? You have to make provision for payment of gratuity alright, but the payment will be made only after completion of 5 years of service. If not, the amount will remain with the employer. You can also consider going in for the Group Gratuity scheme of LIC.
Cyril
From India, Nagpur
Your question is not clear to me. Why should you return the gratuity of persons who have not served for 5 years? You have to make provision for payment of gratuity alright, but the payment will be made only after completion of 5 years of service. If not, the amount will remain with the employer. You can also consider going in for the Group Gratuity scheme of LIC.
Cyril
From India, Nagpur
Hi,
Would you clearyfy wether gratuity is calculated annualy as we know that gratuity will be given after complition of five years continious of service is any such provision where the gratuity is calculated begre the complition of 5 years. As per my knowledge it is calculated only after superanuation , retirement, or resign , as cyril mentioned that you can invest the same in Group Gratuity Scheme I would like clerification on the issue
From United States, Chicago
Would you clearyfy wether gratuity is calculated annualy as we know that gratuity will be given after complition of five years continious of service is any such provision where the gratuity is calculated begre the complition of 5 years. As per my knowledge it is calculated only after superanuation , retirement, or resign , as cyril mentioned that you can invest the same in Group Gratuity Scheme I would like clerification on the issue
From United States, Chicago
Hi,
Gratuity should be calculated when it becomes payable. If you go in for the group gratuity scheme, you have to go by the guidelines prescribed. please get in touch with the authorised representative for this purpose and he will guide you in the matter. There are several undertakings who are covered under the Group gratuity Scheme.
Cyril
From India, Nagpur
Gratuity should be calculated when it becomes payable. If you go in for the group gratuity scheme, you have to go by the guidelines prescribed. please get in touch with the authorised representative for this purpose and he will guide you in the matter. There are several undertakings who are covered under the Group gratuity Scheme.
Cyril
From India, Nagpur
Every employee (other than an apprentice) irrespective of his wages is entitled to receive gratuity after he has rendered continuous service for 5 years or more under the Payment of Gratuity Act 1972. However, if the organisation covers under the A.P.Shops & Establishments Act, 1988, every employee who has put in a continous service of not less than one year shal be eligible for service compensation amounting to fifteen days average wages for each year of continuous employment, as per the Section 47 (3) of the said Act.
From India, Hyderabad
Dear All,
I have worked sincerly in a Pvt ltd co.over a period of 12yrs and 6 months and i have been terminated from service without any fault of mine. The co.has attested my pf withdrawl form for withdrawl of my pf amount but they are denying to settle my gratuity and other benifits with the reason that for terminated employee this benifits will not be given. Kindly advise me how to proceed further to get my settlement. Can company hold my settlement?What i hv to do to get gratuity and other settlement? Awaiting for your
valuable suggestions. If possible kindly send a copy of your reply to below mentioned email id also as i am not very much familiar with social networking.
With regards,
Shree
email id:shreekanthblr@yahoo.co.in or
From India, Bangalore
I have worked sincerly in a Pvt ltd co.over a period of 12yrs and 6 months and i have been terminated from service without any fault of mine. The co.has attested my pf withdrawl form for withdrawl of my pf amount but they are denying to settle my gratuity and other benifits with the reason that for terminated employee this benifits will not be given. Kindly advise me how to proceed further to get my settlement. Can company hold my settlement?What i hv to do to get gratuity and other settlement? Awaiting for your
valuable suggestions. If possible kindly send a copy of your reply to below mentioned email id also as i am not very much familiar with social networking.
With regards,
Shree
email id:shreekanthblr@yahoo.co.in or
From India, Bangalore
If an employee is dismissed for misconduct after conducting proper enquiry then the employer can withhold his gratuity. If termination is not on the ground of misconduct then the employer is bound to pay gratuity. Therefore, apply in form I. If you do not get it, report to the District Labour Officer.
Regards,
Madhu.T.K
From India, Kannur
Regards,
Madhu.T.K
From India, Kannur
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