Grativity
What is the procedure of giving grativity??
Do I need to complete 2 years in the company or do I need to complete 2 financial years in the company? I join the company on 20th of January 2013 for this year 20th I'm compleating 2 years. But company's financial year starting from 1st of January to 31st of December. From company they are telling me that I'm entitled only one year not for 2 years. But I already completed 2years in the company. I gave resignation mentioning my last day is 20th of February. Please advise.... What is the rule.
The labor law is very clear. It is for every year of employment so you get 2 years. What does the internal financial years of the company have to do with this?....Nada! Zilch! Zero! Slap article 54 of the labor law to their greedy faces!
Article (54)
In addition to any sums to which the worker is entitled to upon the expiry of his service, the employer shall pay the end of service gratuity to the worker who has completed employment of one year or more. This gratuity shall be agreed upon by the two parties, provided that it is not less than a three-week wage for every year of employment. The worker shall be entitled to gratuity for the fractions of the year in proportion to the duration of employment.
Very well said by Coxtown. Plz disclose the name of this Oscar nominated company or their management for others to take note of it.
As per law, You are eligible for 2 years end of service benefits( Gratuity ) if it is stated in your contract. The rate applicable is 3 weeks basic salary for each year. Dont worry about company's financial period of accounting etc.,