Clarification require regarding Gratuity calculation to officers.

[suresh mahajan]

Dear All

           

 

 

            In BANK OF INDIA gratuity is calculated under Bank of India gratuity rule 1975 as  well as  

             gratuity act 1972 and higher of   these to is payable.

        

           I have officiated in scale-2 for continuous 2 years and got

           benefit of officiating allowance in fixation as additional pension(without D.A.)

        

           I receive gratuity under bank rule 1975 calculated on basic pay and

           FPA only.My question is whether officiating is also to be include in

            Calculating gratuity . please clarify

         Thanks and Regards

         Suresh  Chandra mahajan

[Prasad C N]

Dear Mr.Sureshji,

Recently, IBA has advised member banks to consider temporary allowances for calculation of Gratuity.  In this connection, I have a copy of AIBEA Circular, a copy of which is attached hereto. This may be useful to you.

 

Thanks, a Million.

With regards,
Prasad C N

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From: suresh mahajan <sur.ma...@gmail.com>
To: bankpe...@googlegroups.com
Sent: Friday, 9 December 2011 6:36 PM
Subject: bankpensioner Clarification require regarding Gratuity calculation to officers.

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[suresh mahajan]

Mr. Shri Prasad

     Further clarification require regarding calculation of gratuity to officer

       Thanks for providing useful information. Please also guide on the following points

1)      If the 12 month average falls between 8^th & 9^th settlements whether formula of D. A. adjustment as applicable in pension fixation is also applicable in arriving basic pay for gratuity calculation .Or

2)      Whether gratuity is calculated on maximum of  basic pay and allowances falling in any month during last 12 month

3)      Whether method calculation of gratuity  for officer as well as award staff is same under bank of India gtatuity rule   for both category

 

 Thanks  and Regards 

Suresh Chandra Mahajan

[SBMPC Blore]

Dear Mr.Sureshji,

Even Desai Award itself provide for calculation of Gratuity by including temporary allowances.  In case, such temporary allowances period spills over two BPS period, IBA has already issued guidelines in this regard.

Thanking you,

With regards,

Prasad C N

[vijay majithia]

Sir, my claim for gratuity on  officiating allowance had been rejected by PF Dept, Dena Bank Mumbai, They says that DA is not linked with Officiating Allo to officer hence you are  not eligible for gratuity on officiating allowance, please guide me

v g majithia

[HARIDAS BADIYANI]

There is no Circular attached pl attach the circular

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[UCO BANK PENSIONERS]

Dear Members,

In continuation of payment of various arrears, like salary, Leave Encashment etc., following the X BPS, some of the Ex-Staff Members, [both Officers & Award Staff], who retired from Bank's Service, either on superannuation or VRS, between 01st November 2012 and 25th May 2015, have received Gratuity Arrears, which is over & above the Gratuity amount they received at the time of retirement. This is so even in cases where they were paid the Maximum ceiling limit of Rs. 10.00 Lakh even though their eligibility was above 10.00 lakh, at the time of retirement. But most of the other Officer and Award Staff Members, who retired during the above period have not received the Gratuity Arrears. 

Can anyone please enlighten on the above subject and clear the doubt as to who are eligible and who are not, what is the method and proceedure etc., so that we could inform our Members accordingly.

Thanks & Regards,

R S SREENIVASAN [+91-9940174430 / 9791660009 / 9710400569]

Treasurer,

UCO BANK PENSIONERS' ASSOCIATION - TN.

[mohan p]

For Information:

01.The Gratuity limit as per Section 4(3) under the Payment of Gratuity (amendment)Act 2010,was  raised from Rs.3.5 lakhs to Rs.10 lakhs  w.e.f 24^th May 2010.As per  notification all those who retire/resign on or after 24^th May 2010 shall be eligible for the benefit of the revised   enhanced ceiling.

02.Gratuity is paid under:

a)Gratuity Act 1972 and under 

b) Bank's service regulations

a)Under a):An employee is eligible for gratuity after completion of 5 years of service. The Gratuity payable under the act is 15 days wages for every completed years of service. Maximum amount payable is Rs 10 lakhs w e f 24.5.2010. 

The Calculation is as follows:

Gratuity Amount = (Wages) x No of year of service x 15/26

Wages=Last drawn pay(ie:Basic Pay +FPA+PQA(increment component)+DA)

Under b):

An employee is eligible for gratuity after completion of 10 years service.   The gratuity payable is 15 months pay up to 30 years of service plus additional 15 days pay for every completed years of service beyond 30 years.

 Difference of enhanced amount was paid  and not arrears. 

 

[RADHAKRISHNAN]

I retired from Uco Bank in 2010. But I have not been paid any arrears.  Please enlighten me on this

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From: bankpe...@googlegroups.com <bankpe...@googlegroups.com> on behalf of UCO BANK PENSIONERS <ucopen...@gmail.com>
Sent: Tuesday, March 15, 2016 11:20 PM
To: bankpe...@googlegroups.com
Subject: Fwd: bankpensioner Clarification require regarding Gratuity calculation to officers.

 

[UCO BANK PENSIONERS]

Dear Bankpensioners Blog Members,

We refer to the earlier email dated 15.03.2016 and till now no one has enlightened on the subject. We once again request the members who have any idea over the above matter to please share with us.