Five year is the minimum period and 4.5 years will not be treated as five years. Only rounding up is applicable once you become eligible for gratuity. Pleas confirm if I am right. more
Only in case where employee expired during period of his employment his legal heirs as per Gratuity Act are entitled to get proportionate gratuity amount to the tenure of his employment. Else as stated earlier in any case even a short fall of one day to Five Years of Service will not make employee entitled for Gratuity Payment. Five Years and there after each year minimum working of 240 days are required. But it is not true that in fifth year if employee is completed 240 days he is eligible. more
Dear Sir, Yes sir you are right : for eligibility complete service of Five Years is essential and there after four rounding up 6 months and more will be treated to higher year and less than Six Month rounded up to the completed years. Regards and have a nice day ahead. (M.D. Manapure) more
Strictly speaking, gratuity entitlement is completion of 5 years but Controlling Authority under Central Act take recourse to provisions of Industrial Disputes Act wherein 240 days or more is taken as a 'year'. And proceed to hold that person putting in more than 4 years and 6 months is entitled to gratuity. more
Gratuity calculating formula ... (Basic Pay + DA ) X length of service in years(6 months or more to be considered as full years less than 6 months to be ignored) X 15 / 26 more
EPFO has now allowed subscribers to go beyond the pensionable salary capped at Rs 15,000 a month on which employers deduct a sum equal to 8.33% of the ‘actual basic salary’ towards pens...
Dear Respectable Members, I am not sure what guidelines OR procedures to get higher pension from EPF/EPS. I am having only News paper information, that is 6th May 2023 as last date to su...
After recent retirement, I had applied for full PF-amount-release, which was subsequently shown as settled. On the EPF Portal, it shows as - "Your Claim [ Claim Id - xxx ] has been Settled. P...
Earlier I applied form 10D offline at RPFO cuddapah (AP) for pension claim on superannuation. There was no response for verification of scheme certificate for about 3yrs. Finally I could get verif...
On Monday, EPFO announced that all the eligible members of the provident fund body can now opt and apply jointly with their employers for higher pensions till May 3, 2023. Earlier, the deadline for...
MORE IMPORTANT IS RULE, APPLIED ON US FOR LATE PAYMENTS. EPFO ,LOOKS LIKE AN ADMINISTRATIVE INSTITUTION, NOT SERVICE SECTOR. THEY SHOULD PAY. WE SUFFER FOR LATE PAYMENT.THEY CARE FOR NONE.EVEN BAN...
When a payment for advance tax is made late, we have to pay a penal interest to the government. Here EPFO has delayed interest credit by 11 months. Shouldn't they be liable to...
Hi my friend has been working in a multinational company for the last 12 years in Gurgaon. His PF account was created by the company however when my friend checked the details, his surname was ment...
I am 57 yrs and quit my organization, in Oct'2022, having worked there for 12 years. Employer deposited final PF contribution on 11-Nov'2022. As per rules, I wanted to withdraw my PF aft...
By Indrajit Mukherjee
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