Understanding Superannuation: Who Qualifies and When Do Benefits Apply for Permanent Staff?

Good morning to all, please clarify the "Eligibility for Superannuation" for permanent staff in HO Rolls. Also, please explain what superannuation benefits are and when they are applicable to staff.

Gratuity Amount

EL Encashment (Full & Final Settlement)

EPF/EPS Full & Final Settlement

Experience Letter, Gift, and Memento Trophy, and Cash Award on the Occasion of Superannuation

Ensure there is a single line break between paragraphs.

Superannuation Benefit Overview

Superannuation benefit is a retirement benefit offered to employees by their employers. The employer contributes to a superannuation benefit on behalf of employees towards the group superannuation policy held by them. Organizations either manage the superannuation fund through their own trusts or open a superannuation benefit fund with approved insurance companies. They may also purchase products from insurance companies like LIC's New Group Superannuation Cash Accumulation Plan or ICICI's Endowment superannuation plans, etc.

The employer contributes a fixed percentage (up to a maximum of 15%) of employees' basic pay and dearness allowance. The same percentage of contribution needs to be made for a particular category of employees. Though the contribution is made by the employer, ideally, superannuation is part of the Cost To Company (CTC).