A gratuity is a one-time payment made to an employee after a specified period of service. My father also claimed his gratuity amount when he resigned from the company. It is given as a token of appreciation for the employee's lengthy service. Gratuity is usually provided at the time of retirement, although it can also be requested when changing jobs when a specified amount of time has passed (5 years). The Payment of Gratuity Act of 1972 governs the payment of this benefit. Although it is due at retirement, based on the terms and conditions, it may be paid to the employee in advance. Let’s see how to claim gratuity.
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How to claim gratuity amount?
1) You can claim their gratuity amount by using a form called gratuity claim form 1.
2) You just need to fill out the gratuity form with all of the needed information, such as your complete name, address, department, employee id number, day of the appointment, reason of termination, total service length, and last drawn salary.
3) You should sign the gratuity claim form when you've completed it.
4) Now attach a bank passbook copy or a cancelled check to the gratuity form after you have completed it.
5) When you submit all of the relevant information and papers, your employer will deposit your gratuity amount to your bank account within 15-30 days.
Criteria to claim gratuity amount:
1) According to the Payment of Gratuity Act of 1972, an employee is only entitled to gratuity after working for an organisation for at least five years.
2) The employee will be paid the gratuity when he or she reaches retirement age, or when he or she retires or resigns.
3) It should be noted, however, that the requirement of working for a firm for five years in a row does not apply in all cases.
4) If the employee becomes handicapped or dies, the law requires that the company pay the gratuity to the employee or his or her nominee.
5) When an employee is entitled to gratuity, the rules indicate that they must apply within 30 days of the day the gratuity becomes payable.
6) In the event of the employee's death, incapacity, or illness, it may be paid before the five-year threshold.
How to claim gratuity should be clear to you now.
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How to claim gratuity?
ajit
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2022-04-05T18:58:01+00:00 2022-04-11T12:39:44+00:00Comment
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