My friend has been working with a bank for last 18 yrs. He had taken 3-4 major leave breaks totalling to around 5 months, all on medical grounds. These leaves taken in late 1990s had then translated to LWP (leave without pay). All said LWPs were suitably approved (on paper) by the management & HR, with a little condition that the increment date be delayed / deferred by the no. of LWPs. This meant that if the annual increment date was 15 feb., it will be delayed by 5 months owing to LWP taken. My friend has been perfectly regular in last 8-9 yrs. & have gathered good leave balance now. NOW, MY QUESTION IS :
1) Will this LWP be considered as part of total service, when calculating the pensionable service or eligible gratuity or super annuation ??
I understand, such LWP (duly approved) on medical grounds, do not amount to break in service. For confirmation, i ask u - will this LWP be counted as part of continuous service for calculating pensionable service perior or gratuity or super annuation.
request definite (sureshot) views, backed by law / rules.
thanks,
NIRAVKB
From India, Ahmedabad
1) Will this LWP be considered as part of total service, when calculating the pensionable service or eligible gratuity or super annuation ??
I understand, such LWP (duly approved) on medical grounds, do not amount to break in service. For confirmation, i ask u - will this LWP be counted as part of continuous service for calculating pensionable service perior or gratuity or super annuation.
request definite (sureshot) views, backed by law / rules.
thanks,
NIRAVKB
From India, Ahmedabad
I await expert views from all, including Mr. Abbas P S who champions such matters. Briefly, the query is -
Is approved LWP (on medical grounds) considered a part of continuous-service ? Will it be included when calculating total service (for computing gratuity, pension, super annuation & other purposes) ?
Await ur views,
niravkb
From India, Ahmedabad
Is approved LWP (on medical grounds) considered a part of continuous-service ? Will it be included when calculating total service (for computing gratuity, pension, super annuation & other purposes) ?
Await ur views,
niravkb
From India, Ahmedabad
I suspect mr. Abbas has answered this question many times in the past.
The information you have provided is incomplete. The provisions of pension depend on the bank and the pension scheme that they have. Unless that information is available no one will be able to give you a proper answer.
With if you are talking about pension under the PF act, then this will not be counted as a service break and you will be eligible for the pension for the entire period. There may be some reduction on account of less amount being credited to your account.
For graduating, since the company has approved the leave, even LWP, it will not be considered as a service break. I do not think the company will even count it as less than a year unless you have a real vindictive HR person in the branch. Mostly banks do not bother with minor things like this unless you have dine something wrong before leaving.
From India, Mumbai
2383The information you have provided is incomplete. The provisions of pension depend on the bank and the pension scheme that they have. Unless that information is available no one will be able to give you a proper answer.
With if you are talking about pension under the PF act, then this will not be counted as a service break and you will be eligible for the pension for the entire period. There may be some reduction on account of less amount being credited to your account.
For graduating, since the company has approved the leave, even LWP, it will not be considered as a service break. I do not think the company will even count it as less than a year unless you have a real vindictive HR person in the branch. Mostly banks do not bother with minor things like this unless you have dine something wrong before leaving.
From India, Mumbai
Thanks Saswata. My prime concern about whether that will be counted as service-break is answered. If they do, my gratuity may get affected by the consequent reduction in total no. of serviced years. Likewise, it will matter when counting the no. of years required to reach pensionable service (of 28 years).
Will appreciate MORE VIEWS from others to get wider or a different perspective - if at all, there is one. Any addendum from Saswata is also welcomed.
thank you.
From India, Ahmedabad
Will appreciate MORE VIEWS from others to get wider or a different perspective - if at all, there is one. Any addendum from Saswata is also welcomed.
thank you.
From India, Ahmedabad
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