Hi,
I wish to have clarity on Gratuity withdrawal terms, which state a minimum of 5 years of regular service in a company. Does this 5 years mean the 5th year of joining, or is it calculated from the date of joining?
Please update.
Thanks,
Ashu_bit1
From India, Calcutta
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I wish to have clarity on Gratuity withdrawal terms, which state a minimum of 5 years of regular service in a company. Does this 5 years mean the 5th year of joining, or is it calculated from the date of joining?
Please update.
Thanks,
Ashu_bit1
From India, Calcutta
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Dear,
In the Gratuity Act, "Gratuity is applicable to a permanent employee who completes 5 years of continuous service with the organization."
An employee who has completed 5 years of continuous service with the organization is eligible for gratuity, even if the employer approved a two-year break for training or further study.
Effective from the date of joining, an employee who has completed 4 years and 240 days of continuous service in the 5th year becomes eligible for gratuity.
Basically, gratuity is calculated from the date of joining to completing 5 years. For example, if a person joins on 5th Dec 2001 and serves continuously till 5th Dec 2006, they are eligible for gratuity, even if they were on leave for 3 months in a year or for 2 years continuously, as long as it was sanctioned by the employer.
From India, Delhi
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7In the Gratuity Act, "Gratuity is applicable to a permanent employee who completes 5 years of continuous service with the organization."
An employee who has completed 5 years of continuous service with the organization is eligible for gratuity, even if the employer approved a two-year break for training or further study.
Effective from the date of joining, an employee who has completed 4 years and 240 days of continuous service in the 5th year becomes eligible for gratuity.
Basically, gratuity is calculated from the date of joining to completing 5 years. For example, if a person joins on 5th Dec 2001 and serves continuously till 5th Dec 2006, they are eligible for gratuity, even if they were on leave for 3 months in a year or for 2 years continuously, as long as it was sanctioned by the employer.
From India, Delhi
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I have worked for a company and now I aspire to become an efficient stores manager. I request your valuable advice on the maintenance of returnable and non-returnable goods in my stores. Therefore, I humbly request you to send specimen registers containing all the necessary details.
With regards,
Nageswara Rao
From India, Hyderabad
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With regards,
Nageswara Rao
From India, Hyderabad
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Dear Nageswara Rao,
The subject matter of this thread relates to gratuity, and therefore, it is suggested that you may post your query on a separate or similar thread.
R.N.Khola
From India, Delhi
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The subject matter of this thread relates to gratuity, and therefore, it is suggested that you may post your query on a separate or similar thread.
R.N.Khola
From India, Delhi
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Hi I have a question one of my colleague is working in a company for the past 4 yrs 250, recently he resigned from the company. Can he claim gratuity. If yes on what basis. Regards Mohan
From India, Hyderabad
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From India, Hyderabad
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Dear all,
Please note that according to section 4 of the Aat, gratuity becomes payable only after rendering continuous service of not less than five years unless the termination of the employment of any employee is due to death or disablement.
Regards,
Apex Management Consultants, Parwanoo
From India, Shimla
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Please note that according to section 4 of the Aat, gratuity becomes payable only after rendering continuous service of not less than five years unless the termination of the employment of any employee is due to death or disablement.
Regards,
Apex Management Consultants, Parwanoo
From India, Shimla
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