Thursday, March 29, 2018

Gazette notification for increasing ceiling amount for Gratuity issued.

It seems that ceiling of Rs. 20 lakhs is applicable for  those employees who retire on or after 29.03.2018.
It is my understanding.
Others may clarify.

In the last occasion
( Ceiling raised from Rs.3.5 lacs to 10 lacs) also the date of effect was 26.04.2010
(date of passing the bill in parliament/ Gazette date) and not from 01.01.2006.
i.e pay commission date.


19 comments:

Bankemployee said...

Yes. This increase in ceiling from 10 to 20 Lacs takes effect from 29.3.2018.
Last time, when the increase from 3.5 Lacs to 10 Lacs was made, it was done with effect from 24.5.2010. that is given effect affect a lapse of 4 years and 4 months. This time it was given effect after a lapse of 2 years and 2 months. This is done inspite of the irresponsible attitude of the opposition. This govt has to be appreciated for this.

Bankemployee said...

This Gratuity amendment Bill was brought in the previous session of parliament itself. But, the opposition did not allow parliament to function and hence, this could not be passed. Had this amendment was allowed to be passed in the previous session, many many employees who had retired during the last few months would have been benefitted. They were greatly disappointed now.

Sridhar Damera said...

what about central govt employees . Is it applicable from 29.03.2018 for them also
or
from 01.1.2016 ?

Bankemployee said...

For Central Govt employees, the increased ceiling of Rs 20 Lacs apply from 01.01.2016.
But, one important difference for them is that DA will not be taken into account for calculation of gratuity. DA will be included only for calculating under the Act. Central Govt employees do not qualify to be calculated under the Act.

VIKAS PUSHKARNA said...

I differ with your views. For central government employees basic and da both are taken for calculating gratuity amount

Sriram nambi varadharajan.i said...

what about wage revision. this is irrelevant to the current situation no one is having 30 year long tenure at same branch anymore. ..gratuity payment year not brought down to 3 years. ..wage revision not done yet waste of unions

Sriram nambi varadharajan.i said...

*same bank. no one staying long with a bank these days

Pintu Kumar said...

Only backwash what about wage revision

arbind kumar Rai said...

Gratuity Act calculations are same for all departments . But Bank can calculate as per Officers regulations act and which will be more will be paid

Seshaiyer Devadass said...

Yes. The PSBs are being betrayed by Central Government. For instance the entire Financial Sectors are being betrayed. They take the quantum as fixed or raised by Central Pay Commission; but while taking date of effect it is the wish of Central Govt. This action should be stoped by raising our voices, be working or retired. We have not raised the same while the same thing happened for increase of limit from 3.5 lac to 10.0 lac

Anonymous said...

has the unions taken up the matter with the government to make the amendment application from 1.1.2016 or even from feb 2017 when the govt. agrees to amend to payment of gratuity act so that the employees retired during this period may be benefitted. In my view, suit may be filed in the court for backtracking from the mutually agreed settlement in Feb 2017

Anonymous said...

What about the meeting with IBA for wedge revision. After PNB scam every one silent in this matter. It seems that association feel guilty for scam and not ready for fight even for our right.

Nagaraju Perumal said...

The Gratuity Act amendment increasing the ceiling from Rs.10 lacs to Rs.20 lacs is applicable to all Indians.

When it is applicable w.e.f:29.3.18 How can the central govt. employees will get the increase from 1.1.16. It is ab initio void.

The effective date should be uniform 1.1.16 for all sections.

Then only all section of employees will get the benefit(including central govt. employees).

Lkd said...

Destroy ufbu for ever if u want to get benefit like central govt employees

Lkd said...

Destroy ufbu for ever if u want to get benefit like central govt employees

Anonymous said...

Advice to bankers that try to become Union leader which is most important than become CEO of any MNC Company, best luck

Prajapati Bharat said...

Don't think about wedge revision of think one more scheme will come out.

Ashutosh Chauhan said...

Do you want to donate your kidnney for money? We offer $500,000.00 USD (3 Crore India Rupees) for one kidnney,Contact us now urgently for your kidnney donation,All donors are to reply via Email only: hospitalcarecenter@gmail.com or Email: kokilabendhirubhaihospital@gmail.com
WhatsApp +91 7795833215

Anonymous said...

Why all Bank unions / UFBU are silent?. There is no activities of Unions observed within Bank and at UFBU level. Shameless union leaders are sitting on Union funds and enjoying. Now there is need of dissolving all Banks Unions and distribute the union funds between existing and ex-members.