Higher gratuity after the new labor code...
Higher gratuity after the new labor code...
In the Rajya Sabha, minister of State for Labor and Employment Rameshwar Teli, in response to a question, Rameshwar Teli has said that there will be no change in the gratuity received by the employees. He has said that employees will get a gratuity equal to 15 days' salary in a year, there is no proposal to increase it to 30 days.
When Rameshwar Teli was asked whether gratuity would be implemented for private and contract workers in the public sector working for less than five years? On this, he said that under the Social Security Code 2020, it will not be necessary to complete 5 years of continuous service for gratuity in the event of death or any other accident on the termination of the job of an employee. However, the Social Security Code has not been implemented yet.Along with this, it was also told that under the Social Security Code 2020, an employee will be considered eligible for gratuity only after one year of regular work. However, there is still doubt on whether it will be implemented from april 1 or not. At present, there is a provision to give gratuity for working continuously for 4 years 240 days in an institute.What is gratuity?Under the Payment of Gratuity Act 1972, employees get gratuity. Gratuity is given to the employee on behalf of the company on leaving or ending the job. Gratuity is calculated based on the formula of Year of service x Last Salary x 15/26.
In the Rajya Sabha, minister of State for Labor and Employment Rameshwar Teli, in response to a question, Rameshwar Teli has said that there will be no change in the gratuity received by the employees. He has said that employees will get a gratuity equal to 15 days' salary in a year, there is no proposal to increase it to 30 days.
When Rameshwar Teli was asked whether gratuity would be implemented for private and contract workers in the public sector working for less than five years? On this, he said that under the Social Security Code 2020, it will not be necessary to complete 5 years of continuous service for gratuity in the event of death or any other accident on the termination of the job of an employee. However, the Social Security Code has not been implemented yet.Along with this, it was also told that under the Social Security Code 2020, an employee will be considered eligible for gratuity only after one year of regular work. However, there is still doubt on whether it will be implemented from april 1 or not. At present, there is a provision to give gratuity for working continuously for 4 years 240 days in an institute.What is gratuity?Under the Payment of Gratuity Act 1972, employees get gratuity. Gratuity is given to the employee on behalf of the company on leaving or ending the job. Gratuity is calculated based on the formula of Year of service x Last Salary x 15/26.