Hi all,
Could anyone please help me with the gratuity? I have served a company for 2 years and 6 months. The company was later sold to another company, and I continued to work for the new company for an additional 3 years. In total, I have served for 5 years and 6 months. Although the processes were the same, the company title changed.
When I leave the company, am I eligible to receive gratuity?
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Could anyone please help me with the gratuity? I have served a company for 2 years and 6 months. The company was later sold to another company, and I continued to work for the new company for an additional 3 years. In total, I have served for 5 years and 6 months. Although the processes were the same, the company title changed.
When I leave the company, am I eligible to receive gratuity?
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When a company is transferred from one to another by means of sale, if the transferor does not settle the accounts of the employees of the company as of the date of sale/transfer and in the absence of any mention about the employees, the buyer/the transferee becomes the successor-in-interest for the liabilities of the transferor. Therefore, the employees who continue in the service of the company after its transfer are entitled to continuity of service and all attendant benefits arising from it. Hence, the poster is entitled to gratuity for both the services rendered cumulatively under the transferor and the transferee when he leaves the company.
From India, Salem
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6108From India, Salem
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I hope you are aware of the difference between the sale of the company and the sale of the business.
Sale of the company means that the shares of a set of shareholders are sold to another set of shareholders. The company, being an independent judicial entity, continues to remain the same even if the name is subsequently changed.
In that case, you will be eligible for gratuity.
From India, Mumbai
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Sale of the company means that the shares of a set of shareholders are sold to another set of shareholders. The company, being an independent judicial entity, continues to remain the same even if the name is subsequently changed.
In that case, you will be eligible for gratuity.
From India, Mumbai
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Company Profile - Service Segment.doc