Hi all,
One small information on Mr.V.R.Rao's notes. the monthly salary only divided by 26 and the daily wages need not divided with 26.
Then, for Bidyadhar Mukhi...
Actually the PF Act says that..
Any employee working under any establishment and his basic + DA is below 6500/- then the employee should be a member of the PF scheme. (If the basic+Da is above 6500/- also can be the member but its not mandatory)
The contribution is 12% from both Employee and Employer.
From the 12% of employees contribution will directly remitted to the PF account.
the 12% of employer contribution will remitted to as follows.
out of 12% 8.33% towards Employees Pension fund and balance 3.67% to PF account.
For Pension eligibility - the employee should complete the service for 10 years (either revised pension or complete pension).
Trust this is cleared your doubt.
Best Regards
Saravanan
Asst. Manager - HR
Thiruvalla, Kerala
From India, Kottayam
One small information on Mr.V.R.Rao's notes. the monthly salary only divided by 26 and the daily wages need not divided with 26.
Then, for Bidyadhar Mukhi...
Actually the PF Act says that..
Any employee working under any establishment and his basic + DA is below 6500/- then the employee should be a member of the PF scheme. (If the basic+Da is above 6500/- also can be the member but its not mandatory)
The contribution is 12% from both Employee and Employer.
From the 12% of employees contribution will directly remitted to the PF account.
the 12% of employer contribution will remitted to as follows.
out of 12% 8.33% towards Employees Pension fund and balance 3.67% to PF account.
For Pension eligibility - the employee should complete the service for 10 years (either revised pension or complete pension).
Trust this is cleared your doubt.
Best Regards
Saravanan
Asst. Manager - HR
Thiruvalla, Kerala
From India, Kottayam
Mr.Sachin,
You are eligible the Gratuity for 6 years but please check your date of joining in your payslip. If they are not included your probationary period then you have completed only 4 years 9 months, hence you are not eligible.
If you are crossed 5 years of service, then you can approach the concerned authority.
Best Regards
Saravanan
Asst. Manager - HR
Thiruvalla, Kerala
From India, Kottayam
You are eligible the Gratuity for 6 years but please check your date of joining in your payslip. If they are not included your probationary period then you have completed only 4 years 9 months, hence you are not eligible.
If you are crossed 5 years of service, then you can approach the concerned authority.
Best Regards
Saravanan
Asst. Manager - HR
Thiruvalla, Kerala
From India, Kottayam
Please solve my query. Can an employee is eligible for getting gratuity on completion of 4.6 years of service in a single organisation. Regards, Amit Shetty
From India, Bangalore
From India, Bangalore
Here one more questions.. Please Clarify, after the completion of 5 years does any individual can transfer the Graturity amount from his previous company to current company???
From India, Hyderabad
7From India, Hyderabad
Here one more questions.. Please Clarify, after the completion of 5 years does any individual can transfer the Graturity amount from his previous company to current company???
From India, Hyderabad
From India, Hyderabad
Well, the upper limit is Rs. 10lac. Amount exceeding that would attact tax. So upper limit is already there. As far as lower limit is concern, it would be as per Gratuity Act and dedends on number of years in services so there is nothing much that companies can do.
From India, Hyderabad
From India, Hyderabad
PF will be calculated only on basic + DA + V DA in the rate of 12% from employee contribuion and same as contributed by employer
From India, Hyderabad
From India, Hyderabad
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FORM-F-NOMINATI ON OF GRATUITY.pdf
Gratuity Form I.doc