Dear Friends
I am working in a leading Tyre manufacturing company. One of our employee attained the retirement age on 05.05.2013. Due to manpower shortage we requested him continue the job for another two months. He also agreed for the same. I have couple of doubts
1. Suppose If he left from the job on 05.05.2013, whether he is eligible for gratuity payment?
Because he has only 02 yrs of experience with our company.
2. After the retirement age he continues the job means he is eligible for PF deduction?
Regards
Balaji

From India, Coimbatore
Q no -As of now he is not eligible for gratuity.But if he leaves your employment after 5 yrs total service he will be eligible for gratuity.
Q no 2-He is eligible foe PF deduction ,but not for pension fund if he has completed 58 yrs of age.
Varghese Mathew

From India, Thiruvananthapuram
Balaji,
The employee after attaining 58 yrs is not entitled for contribution to Pension fund.If he was a member of pension fund for more than 10 trs he can apply for pension in Form 10 D.Otherwise he can apply for withdrawal benefit in Form 10 C. Full amount of 12% of his salary you are paying as employer's contribution shall be credited into his EPF a/c only.
Varghese Mathew
9961266966

From India, Thiruvananthapuram

If you are knowledgeable about any fact, resource or experience related to this topic - please add your views using the reply box below. For articles and copyrighted material please only cite the original source link. Each contribution will make this page a resource useful for everyone.

Please Login To Add Reply






About Us Advertise Contact Us
Privacy Policy Disclaimer Terms Of Service

All rights reserved @ 2021 CiteHR.Comô

All Material Copyright And Trademarks Posted Held By Respective Owners.
Panel Selection For Threads Are Automated - Members Notified Via CiteMailer Server