Gratuity Benefits for Employees Who have Worked in the Company for 5 Years

On working for a long time in a company, companies provide the benefit of gratuity. It is a kind of reward that is given to the employee in the name of honesty. The reward money given by the company is called gratuity.

Which company employees can get the benefit of gratuity?

Its benefit is available to those employees who have been working in the company for 5 years. Understand it like this if you joined a company in the year xyz and changed the company after the completion of 5 years, then gratuity money is given by the company. If, on the other hand, you change the company in 2-3 years only, then you will not get the benefit of gratuity.

Many employees have a question regarding gratuity that whether the notice period is also counted in it?

Does the notice period also count?

According to the Gratuity Rules, notice period is also counted in the job period. Actually, the employee is giving his service to the company even during the notice period. This means that if an employee gives notice after working for 4 years and 10 months and serves a notice of 2 months, then it will be counted as 5 years and the amount will be given on that basis.

Gratuity benefits can be available even for less than 5 years

In many situations, the employee can get the benefit of this amount even if the period is less than 5 years. As per the rules, if the employee has worked for 4 years and 8 months, then he is entitled to gratuity.

The nominee can also get this amount

At the same time, according to the Gratuity Act 1972, if something untoward happens to the employee, in which he dies or becomes disabled, then in such a situation also he gets the benefit of gratuity. In these situations, the rule of working for 5 years does not apply. In such situations, the amount of gratuity is given to the nominee. While joining a job, the company makes the employee fill out Form F in which he gives the name of the nominee for the gratuity amount.

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