We have taken gratuity policy by LIC gratuity and premium submitting on a yearly basis in beginning of the FY. Moreover, our one employee resigned his service after 6 yrs completions of services, but his increment due last one year with revised of basic salary. Pl advice he is eligible for gratuity according to revised basic. Pl advice.
Regards
Shiv Pandey
From India, Hardoi
Regards
Shiv Pandey
From India, Hardoi
to my knowledge, Gratuity is given based on employee last drawn Basic.
If you have revised his basic, he is eligible with his new Basic amount.
CiteHR members, correct me if i have quoted wrong.
Thanks,
S.Narasimhan
From India, Bangalore
8If you have revised his basic, he is eligible with his new Basic amount.
CiteHR members, correct me if i have quoted wrong.
Thanks,
S.Narasimhan
From India, Bangalore
Was the increment given or planned and held back
Since gratuity is in last drawn sallary, it will apply only if increment was given.
I believe you are supposed to inform LIC of increment or additions to the employee list and they would comite the increased premium which you pay. If you suddenly increase the salary without informing them, I do not think they will pay according to it.
From India, Mumbai
Since gratuity is in last drawn sallary, it will apply only if increment was given.
I believe you are supposed to inform LIC of increment or additions to the employee list and they would comite the increased premium which you pay. If you suddenly increase the salary without informing them, I do not think they will pay according to it.
From India, Mumbai
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.
FORM-F-NOMINATI ON OF GRATUITY.pdf
Gratuity Form I.doc