GRATUITY
Lt COL R S shekhawat
(Querist) 22 April 2011
This query is : Resolved
transfer of gratuity from 01 GOVT psu to another GOVT psu
my friend has served 02 yr in VIJAYA bank,applied through proper channel & got selected into CCI & joined
VIJAYA bank cleared all his dues less;-
i)GRATUITY
ii)PF contribution of BANK
quoting NOT eligible as served less than 05 yr
is BANK right legally?
Guest
(Expert) 22 April 2011
Bank is right in both the cases, as--
1) Due to non-eligibility on account of non-qualifying service, being less than 5 years; and
2) Your friend cannot expect transfer of PF accumulation automatically unless applied for in proper proforma quoting the new account No., if opened, with the new organization.
However, if applied through proper channel/ permission for the new employment, his previous service can be counted for any service benefits in the new organization at the time of leaving the organization on retirement, retrenchment or resignation, if permissible.
RAJU O.F.,
(Expert) 23 April 2011
He will be eligible for gratuity only if served more than 5 years in bank. He is eligible to get transfer the PF, his contribution and bank's contribution, to the credit with new employer.
