Hi, Our employees have completed 5 yrs in our company and as per rule they are eligible for gratuity. Pls. guide me which form I should enroll them in Gratuity Scheme.
From India, Vadodara
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From India, Vadodara
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Guidance on Gratuity Nomination Form
If your unit is covered under the Payment of Gratuity Act, 1972, then the employees, at the time of completion of one year of continuous service, are required to submit the nomination form in duplicate (Form F) to the management. The management shall verify the particulars filled by the employee and return the duplicate copy of the same to the employee concerned, duly attested by the employer.
Regards,
R.N. Khola
From India, Delhi
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422If your unit is covered under the Payment of Gratuity Act, 1972, then the employees, at the time of completion of one year of continuous service, are required to submit the nomination form in duplicate (Form F) to the management. The management shall verify the particulars filled by the employee and return the duplicate copy of the same to the employee concerned, duly attested by the employer.
Regards,
R.N. Khola
From India, Delhi
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Dear sir, Please clarify in gratuity Act whether Nomination form collected form employee after one service completed or at time of joining Which one is correct Thanks Hekarthi
From India, Coimbatore
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From India, Coimbatore
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In the case of the death of an employee, the gratuity payable to him shall be paid to his nominee(s). If no nominee has been made, then the gratuity is to be paid to his legal heir(s). The requirement of nomination is necessary in the event of an employee's death after completing one year of continuous service or more. If no nomination is made, then the gratuity amount is required to be paid to his legal heir(s), and obtaining this legal heir certificate can be a challenging task. An employee cannot be compelled to give a declaration. Generally, the HR department also collects this nomination at the time of completing other nominations when a new employee joins.
Regards,
R N KHOLA
From India, Delhi
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Regards,
R N KHOLA
From India, Delhi
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Understanding the Gratuity Act
Please read the Gratuity Act. You will realize there is no question of enrollment. You are required to pay gratuity when the employee leaves after having worked for 5 years without a service break (or in case of death, then the 5-year rule does not apply). You should get a gratuity cover from LIC or another insurance company or create a gratuity fund so that it does not impact the cash flow when you have to pay it.
From India, Mumbai
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Please read the Gratuity Act. You will realize there is no question of enrollment. You are required to pay gratuity when the employee leaves after having worked for 5 years without a service break (or in case of death, then the 5-year rule does not apply). You should get a gratuity cover from LIC or another insurance company or create a gratuity fund so that it does not impact the cash flow when you have to pay it.
From India, Mumbai
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