Dear kavimanojpandya,
Gratuity
Eligibility :
· An employee with a continuous service of minimum five years and subject to the
provisions of the Payment of Gratuity Act, 1972. The qualifying period of five
years of service will not apply in the case of the employee who dies in harness or
suffers total and permanent disablement.
Conditions :
· Gratuity is payable on retirement, resignation, death, or physical disablement.
· Gratuity may be wholly or partially withheld if the employee is discharged or
dismissed from service on disciplinary grounds.
Computation
· @ 15 days of last drawn basic salary for each completed year of continuous
service. Service of six months and above will be considered as a full year and
service of less than 6 months will be ignored.
· Period of service is calculated from the date of the employee joining the
Company or any of the Group companies.
· The Benefits under the scheme are subject to the provisions of the Payment of
Gratuity Act, 1972.
Regards,
Chandra Sekhar.