Hi, What happens to an employees Gratuity accumulation in a case where he resigns from the organisation with in less than 5 years?
From India, Vadodara
From India, Vadodara
3131
Hi,
As we all know, in IT Industry where employees switch over their companies frequently, is their any way to carry forward the Gratuity like PF amount?
We can see there cess is collected for workers and kept in common pool in unorganized industries like construction to safeguard the workers welfare
As there is no strong union and collective bargaining on salary hike,promotion etc., employees take up new opportunities for better salary and career growth. This is the trend in IT Industry. How to look at this situation where employees loose their benefits like Gratuity.
Parimala
From India, undefined
As we all know, in IT Industry where employees switch over their companies frequently, is their any way to carry forward the Gratuity like PF amount?
We can see there cess is collected for workers and kept in common pool in unorganized industries like construction to safeguard the workers welfare
As there is no strong union and collective bargaining on salary hike,promotion etc., employees take up new opportunities for better salary and career growth. This is the trend in IT Industry. How to look at this situation where employees loose their benefits like Gratuity.
Parimala
From India, undefined
""is their any way to carry forward the Gratuity like PF amount?""
Gratuity is paid on completion of five years continuous service as a reward for good service.
Once you understand the concept of gratuity,you may appreciate that carry forward of gratuity from firm to firm will not take place.
Question of loosing benefit arise when you are authorised the benefit and loost it or do not get it.
Gratuity payments is also done to ensure employees continue in a company for some time.If you are mobile then loss of gratuity may be factored in your calculuations.
From India, Pune
Gratuity is paid on completion of five years continuous service as a reward for good service.
Once you understand the concept of gratuity,you may appreciate that carry forward of gratuity from firm to firm will not take place.
Question of loosing benefit arise when you are authorised the benefit and loost it or do not get it.
Gratuity payments is also done to ensure employees continue in a company for some time.If you are mobile then loss of gratuity may be factored in your calculuations.
From India, Pune
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FORM-F-NOMINATI ON OF GRATUITY.pdf
Gratuity Form I.doc