1
dear Sir, The maximum amount an emplyoee can get towards gratuity is Rs. 3,50,000/-. P M Patel
From India, Mumbai
From India, Mumbai
Dear Sir,
I am a fresher to Industrial World,,
I don't know what Gratuity and PF is?..
how does both of them differ each other Sir,,
it wolud be grateful if u could clarify me,,,
Best Regards,
K.Murugan :)
From India, Madras
I am a fresher to Industrial World,,
I don't know what Gratuity and PF is?..
how does both of them differ each other Sir,,
it wolud be grateful if u could clarify me,,,
Best Regards,
K.Murugan :)
From India, Madras
Hi Murugan,
PF is the pension amount received after retirement and Gratuity is what you get after completing 5 year continous service in the same Organisation.
Kindly let me know if i m wrong.
Thanx
Pratibha
PF is the pension amount received after retirement and Gratuity is what you get after completing 5 year continous service in the same Organisation.
Kindly let me know if i m wrong.
Thanx
Pratibha
Hi Murugan,
What prathibha said was right.
Gratuity can be payable to the the employee who complets a five years of service in the company. Gratuty means a GIFT OF MONEY. The max amount of gratuty is 3,50,000. But I am not sure whether the amount is correct or not!!!
Gratuity should be paid when the firm has 10 or more employees. In a specific time, when employees are less than 10 also, the company is responsible to pay the gratuity.
Where as PF(Provident Fund) is a dedection from the employee salary. It applies to the companies whose employees are 20 or more. The main intention of PF is social secuirty. A seperate account on the name of employee will be created in the PF's Office. The dedection of PF is 12 % of the basic salary. The employee can withdraw his/her amount on resignation, on retirement from the services, on termonation etc.
Hope u get littlebit idea. If u need more information refer the acts.
regards
Subha
From India, Hyderabad
What prathibha said was right.
Gratuity can be payable to the the employee who complets a five years of service in the company. Gratuty means a GIFT OF MONEY. The max amount of gratuty is 3,50,000. But I am not sure whether the amount is correct or not!!!
Gratuity should be paid when the firm has 10 or more employees. In a specific time, when employees are less than 10 also, the company is responsible to pay the gratuity.
Where as PF(Provident Fund) is a dedection from the employee salary. It applies to the companies whose employees are 20 or more. The main intention of PF is social secuirty. A seperate account on the name of employee will be created in the PF's Office. The dedection of PF is 12 % of the basic salary. The employee can withdraw his/her amount on resignation, on retirement from the services, on termonation etc.
Hope u get littlebit idea. If u need more information refer the acts.
regards
Subha
From India, Hyderabad
Its 350,000/-. Should be withdrawn only once in life time. Else it will be tax able.
In your career...you can not withdarw Gratuity from multiple employers.
For example your worked with three companies for long enough period to get Grauity...so you cannnot get 350,000/- from each employer.
Regards
Sanjeev Sharma
From India, Mumbai
In your career...you can not withdarw Gratuity from multiple employers.
For example your worked with three companies for long enough period to get Grauity...so you cannnot get 350,000/- from each employer.
Regards
Sanjeev Sharma
From India, Mumbai
Dear All,
The maximum gratuity payable under Sub Section (3) of Sec. 4 has been revised at Rupees Three Lakhs and Fifty Thousand effective from 24-9-1997 Vide Act 11 of 1998, published in Gazette of India, Pt.II, Sec.3, Sub-section (ii) dated 21st July, 1998.
Rgds,
Suresh Ramalingam
Consultant - Compliance
From India, Mumbai
The maximum gratuity payable under Sub Section (3) of Sec. 4 has been revised at Rupees Three Lakhs and Fifty Thousand effective from 24-9-1997 Vide Act 11 of 1998, published in Gazette of India, Pt.II, Sec.3, Sub-section (ii) dated 21st July, 1998.
Rgds,
Suresh Ramalingam
Consultant - Compliance
From India, Mumbai
Dear All
Friends, please advise whether as per the norms of the company whether the annual benefits like LTC, MEDICALs are paid / reimbursed as agreed by the employer or it is paid exluding the Loss of Pay / Leave without pay days.
Example : If my annual LTC amount is Rs. 25000/- and will I get the etire amount at the end of the financial year [subjected to tax], If I am on LOP for 1 Month or will I be paid with an amount deducting the respective amount for the LOP from Rs. 25000/-
Please advise.
From India, Madras
Friends, please advise whether as per the norms of the company whether the annual benefits like LTC, MEDICALs are paid / reimbursed as agreed by the employer or it is paid exluding the Loss of Pay / Leave without pay days.
Example : If my annual LTC amount is Rs. 25000/- and will I get the etire amount at the end of the financial year [subjected to tax], If I am on LOP for 1 Month or will I be paid with an amount deducting the respective amount for the LOP from Rs. 25000/-
Please advise.
From India, Madras
Dear All,
I think graduity is different in different organizations,, as in my organization graduity is your one month gross salary per year, which will payable to you at the time of your resigning or retirement. there is no limitations in graduity amount, as it could be more then 350,000/-
regards,
Aisha
From Pakistan, Lahore
I think graduity is different in different organizations,, as in my organization graduity is your one month gross salary per year, which will payable to you at the time of your resigning or retirement. there is no limitations in graduity amount, as it could be more then 350,000/-
regards,
Aisha
From Pakistan, Lahore
The employee should complete 5 yrs in the same company to be elegible for gratuity
Gratuity is calculated as 15 days salary for every completed year of service.if an employee resigns after serving the company for 5yras and 6 months he will be elegible for gratuity for total 6 years and if he s completed 5yr and 4 months he will be paid gr 5 yrs
G=15/26*Basic salary last drawn+DA permonth
From India, Bangalore
Gratuity is calculated as 15 days salary for every completed year of service.if an employee resigns after serving the company for 5yras and 6 months he will be elegible for gratuity for total 6 years and if he s completed 5yr and 4 months he will be paid gr 5 yrs
G=15/26*Basic salary last drawn+DA permonth
From India, Bangalore
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.
REQUEST FOR DEDUCTION OF GRATUITY AMOUNT (2).pdf
Security Amount Proof.docx