Hi,
I required some details & clarity for my gratuity eligibility on my current working company, Details are given below I request someone to give clear picture about gratuity eligibility,
I have joined in current organisation on 23 May 2012, And with recent information from my HR & management that they closing this BU may be mid of next year 2017, and told to few employees including me that my service will be required till December 2016 as verbal communication to seek job opportunity outside. And they confirmed that they will issue the letter for releaving by October 2016 for 3 months notice period.
So I have 4 Years 4 months 8 days experience on October and 4 Years 7 Months 8 days (4 yrs 222 days)experience if my service till December,
First I want to know whether I am eligible for Gratuity with respect to my service days till December and cause of company making the termination/Closure,
And if at all chance are there for eligibility, if I am releaving before december on notice period will they consider my gratuity even not completion of 4 years 222 days?
Also I want know about retrenchment compensation provided by the companies to employees due to closure of BU or termination,
how do i approach if they come up with benefits like (15 day of salary x No. of years service)? Did any chance that employee can ask or revise of Retrenchment benefits?
please someone give good clarity about the subject and advice, thanks in advance for the same
Regards,
Bkmy
I required some details & clarity for my gratuity eligibility on my current working company, Details are given below I request someone to give clear picture about gratuity eligibility,
I have joined in current organisation on 23 May 2012, And with recent information from my HR & management that they closing this BU may be mid of next year 2017, and told to few employees including me that my service will be required till December 2016 as verbal communication to seek job opportunity outside. And they confirmed that they will issue the letter for releaving by October 2016 for 3 months notice period.
So I have 4 Years 4 months 8 days experience on October and 4 Years 7 Months 8 days (4 yrs 222 days)experience if my service till December,
First I want to know whether I am eligible for Gratuity with respect to my service days till December and cause of company making the termination/Closure,
And if at all chance are there for eligibility, if I am releaving before december on notice period will they consider my gratuity even not completion of 4 years 222 days?
Also I want know about retrenchment compensation provided by the companies to employees due to closure of BU or termination,
how do i approach if they come up with benefits like (15 day of salary x No. of years service)? Did any chance that employee can ask or revise of Retrenchment benefits?
please someone give good clarity about the subject and advice, thanks in advance for the same
Regards,
Bkmy
According to Payment of Gratuity Act, 1972 & Rules, an employee is eligible for getting gratuity after the completion of five years in a organization. On the other hands, if a worker have worked for 240 days a year is complete. It is not the matter whether a six working days in aweek or 5 working days in a week. In my opinion after the completion of period of five years you will be entitled for getting the benefit of gratuity, wether you work any more or not.
From India, Vadodara
7From India, Vadodara
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Gratuity Eligibility.pdf
Gratuity eligibility for less than 5 yrs. (4yrs.240days). docx