What Are RETIRALS?

Can somebody throw light on RETIRALS? I am new to the recruitment arena and I came across this term in my candidate's salary slip...Was curious!

I think with Retirals they ment the benefits given at the time of Ritirement or Exit. Check it with the candidate.
Regards,
Sreeknath

Hi,
Retirals are basically be one of the salary components as part of the Employees salary.
These are the purily the deduction elements which are also be seen as long term retirement benefits.
Some of the elements of retirsla are -
PF (Providens Fund)
ESI
Gratuity
Superannuation
Most of the above are statutory requirements based on the size of the company. For further details you can refer
The Employee's Provident Funds Act ,1952,
Employees’ State Insurance Act, 1948,
The Payment of Gratuity Act, 1972 , and
Contributions Tax (Assessment and Collection) Act of Labor laws.
Regards
Nisha Binner
HR Manager

Dear Sender,
Retirals means the benefits payable at the time of Retirement.
For e.g.
1. payment of Gratuity (paid by employer on the total service render)
2. Leave Encashment ( no. of paid leave encash by Emloyer)
3. Provident Fund - total PF contribution paid by PF office in lumsum.
4. Pension - monthly pension paid by P.F. office till survival and thereafter his nominees. like wife, children.
5. Superannuation- If co. have the superannuation policy, then monthly pension paid by company.
Somebody mentioned about ESIC in reply. There will be no ESI benefit given at the time retirement unless any disablement.
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regs,
Bhushan Dahanukar
Mumbai

Hi
Retirals means the benefit you receive at the time of exit / retirement.
The following components come under retirals:
* PF (Provident Fund)
* FPF (Family Pension Fund)
* Gratuity
* Superannuation
* Leave Encashment, if any
All the above retiral components are contributed to the employee account by the employer.
Regards
Bharathi