KNOW MORE ABOUT GRATUITY AND PAYMENT.

Dear Veteran brothers,

We had already published this article in  May 2013.

For the benefit of our brothers, we are once again posting the same.

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.

service 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).

Retirement Gratuity:

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  period   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                                                           

Residual Gratuity:

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,   33 yrs of service—

Date of Discharged  1-12-2009

As per our formula,  33 yrs means 66 half year.

His last drawn emolument:   BP- 14780.00

                  Grade pay…………  4600.00

                   MSP……………..   2000.00

DA at 27 % on that day……           5773.00

                Total  ……        27153..00

Eligible gratuity=    27153  X  66 / 4=  448025.00                            

This is how the Gratuity is calculated.

Veteran brothers , you can verify your Gty amount by this formula.

Important Note:

If an Armed Forces  personnel  dies before receiving  Retirement Gratuity , it shall not be paid to his NOK/ heirs  but the matter has to be reported to Pension Sanctioning Authority  PSA/ PCDA giving full particulars like Name, Rank, Service No and PPO, date of death and Bank particulars,.  PSA will direct  what to do.

In the case of Residual Gratuity  also , matter to be reported  to PSA  and they will inform  to pay  to the Nominee or  otherwise.