How can you say it is a deduction? It is a provision for gratuity. I already explained that they are showing the retiral benefits just for the sake of boosting the CTC and making fool of employees.
Pon
From India, Lucknow
604Pon
From India, Lucknow
Deducting gratuity from the wages/salary of the employee is illegal. It is a mandatory payment on the part of employer to pay
the employee if he completes five years of continuous services, as defined in the Payment of Gratuity Act.
Thanks.
R K Nair
From India, Aizawl
the employee if he completes five years of continuous services, as defined in the Payment of Gratuity Act.
Thanks.
R K Nair
From India, Aizawl
Its absolutely correct that we must make all the confirmations crystal clear i.e. transparency should be maintained while doing any things inorder to avoid such problems.
From India, Bangalore
From India, Bangalore
As far as my knowledge is concern CTC means the cost to company i.e what is the cost of an employee bearing by the company. In this component used were gross salary+EPF (only employer share with administrative charges+esic(only employer share)+earning through paid leave(on monthly basis)bonus or exgratia (only of monthly basis)+gratuity (on monthly basis) apart from that any other perks bear by employer. But mind it this component cant be deducted from employee gross figure, CTC includes only the component which was provided by employer. Deduction of 12% of EPF, 1.75% of ESIC and the labour welfare fund(if any) can't be a part of it.Putting the term ctc in the offer/appointment letter is also not valid.
Thanks & Regards,
From,
Sumit Kumar Saxena
From India, Ghaziabad
Thanks & Regards,
From,
Sumit Kumar Saxena
From India, Ghaziabad
Dear Sir,
I understood your question. As per gratuity act, you shall be not entitled to claim or liable to get gratuity in case you do not complete 5 years from the date of your joining to any organization.
Hope your question has been answered.
Sunil Choughule
From India, Mumbai
I understood your question. As per gratuity act, you shall be not entitled to claim or liable to get gratuity in case you do not complete 5 years from the date of your joining to any organization.
Hope your question has been answered.
Sunil Choughule
From India, Mumbai
there is different between what you are talking about PF circular and Gratuity, the PF circular was issued based on the definition of wages which is priscribed under PF Act, secondly, in circular, there is rider to this effect that such amount shall be show PF contribution clearly in Balace sheet of the company also.
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