Dear HR Friends,
I am seeking a Clarification/Correct Rules applicable on Gratuity Amount.
A Portion( say Rs 1000.00) is shown in the annual CTC breakup and the same i understand is kept aside. This is neither reflected in the salary nor I ahe any ack stating that this is being deduced from my CTC. I believe the said amount is deemed to be kept aside, while I have not recd in either form.
My querries are as follows to get an Insight into this problem.
1. Is it legally right to use the word Gratuity under the CTC Breakup and bea part of my CTC. I understand Gratuity is more like a Loyalty amount eligible to an employee after completion of 5 years or 4 years and 240 days.
2. In my case since it is part of my CTC, when will I be eligible to claim?
3. Should a Min of 5 Years / 4 Years, 240 days is a Must?
4. As and when I leave ( within 4 years), can I get back this amount from my employer, since it is part of my CTC - meaning No of months worked times amount and deduced by the management
I need the opinion / Rules for my Senior HR Luminaries so that I need not get carried away by one sided thought process.
look forward to your replies
Srinivas
I am seeking a Clarification/Correct Rules applicable on Gratuity Amount.
A Portion( say Rs 1000.00) is shown in the annual CTC breakup and the same i understand is kept aside. This is neither reflected in the salary nor I ahe any ack stating that this is being deduced from my CTC. I believe the said amount is deemed to be kept aside, while I have not recd in either form.
My querries are as follows to get an Insight into this problem.
1. Is it legally right to use the word Gratuity under the CTC Breakup and bea part of my CTC. I understand Gratuity is more like a Loyalty amount eligible to an employee after completion of 5 years or 4 years and 240 days.
2. In my case since it is part of my CTC, when will I be eligible to claim?
3. Should a Min of 5 Years / 4 Years, 240 days is a Must?
4. As and when I leave ( within 4 years), can I get back this amount from my employer, since it is part of my CTC - meaning No of months worked times amount and deduced by the management
I need the opinion / Rules for my Senior HR Luminaries so that I need not get carried away by one sided thought process.
look forward to your replies
Srinivas