Saturday, May 18, 2013
ATTENTION VETERAN BROTHERS SERIES-9
KNOW MORE ABOUT GRATUITY
TYPES OF GRATUITY
1. Service Gratuity
2. Retirement Gratuity
3. Death Gratuity
4. Residual Gratuity.
Those who have not completed pensionable service and discharged, they are given with Service Gratuity, no Pension.
The Rate is calculated at uniform rate of ½ of monthly emolument for each completed 6 months period of service under Rule No.49 (1).
This is payable on completion of pensionable service . The rate is ¼ of emolument for each completed 6 months period of qualifying service to a maximum of 16 .5 times of the emolument , the Maximum limit is 10 lakhs.
Death Gratuity :
In the event of Death while in service, death benefit is payable to his family/ nominee at the following rates:
Length of service:
Less than one year……..2 times of emolument
One year and above but less than five year….6 times of emolument
5 yrs and above but less than 20 yrs…..12 times of emolument.
20 yrs and above…...1/2 of emolument for every Completed 6 months periodperiod subject to a maximum of 33 times of emolument and a Max of 10Lakhs.
This death gratuity is admissible to Govt.servants whether permanent or Temporary
If a Government servant dies within 5 years from the date of his retirement/ discharge, and if the sum of Gratuity already received by him is less than 12 times the emolument, then the deficiency is called the Residual Gratuity. This differential amount is to be paid to his family/ nominee.
Dear veteran brothers, please find out and help the affected widows in your areas to get their Residual Gratuity .
HOW THE RETIREMENT GRATUITY IS CALCULATED:
For a Subedar , Group-Y, 30 yrs of service—
Date of Discharged 1-12-2009
As per our formula, 30 yrs means 60 half year.
Here the Subedar was a Post 2006 retiree and a weight age of
5 yrs added for calculation of gratuity. Hence 30+5 =35yrs but Max eligible period is 33 yrs only= 66 half year.
His last drawn emolument: BP- 14780.00
Grade pay………… 4600.00
DA at 27 % on that day…… 5773.00
Total …… 27153..00
Eligible gratuity= 27153 X 66 = 448025.00
This is how the Gratuity is calculated.
Veteran brothers , you can verify your Gty amount by this formula.