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Type: HR, Report if not a HR topic
In PF a small portion of the employees salary is deducted and deposited with the government PF office and at the time of retirement it is paid as a lump sum to help the employee lead his life peacefully in spite of retirement and loss of monthly income
Gratuity is a scheme to motivate people to serve for longer durations with the same employer. Anybody who has served an organization for more than 5 years is eligible for Gratuity. A portion of your last drawn salary would be multiplied with the number of years of service and paid out to you when you leave an organization after years of service.
Read more: http://wiki.answers.com/Q/What_is_provident_fund_and_gratuity#ixzz1yMYBVol6
In PF a small portion of the employees salary is deducted and deposited with the government ... See Naman's complete reply
Both Gratuity and PF are social security measures for an employee. Gratuity is payable to employee on having completed 5 years of continuous service with in a company. PF is contributory fund, wherein both employee and employee contributes on monthly basis @ 12% of the basic component.
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What is the Difference Between Gratuity and Provident Fund ?
Type: HR, Report if not a HR topic
Posted 19-06-2012Reply
Can you please explain the difference of Gratuity & Provident Fund. ???
In PF a small portion of the employees salary is deducted and deposited with the government PF office and at the time of retirement it is paid as a lump sum to help the employee lead his life peacefully in spite of retirement and loss of monthly income
Gratuity is a scheme to motivate people to serve for longer durations with the same employer. Anybody who has served an organization for more than 5 years is eligible for Gratuity. A portion of your last drawn salary would be multiplied with the number of years of service and paid out to you when you leave an organization after years of service.
Read more: http://wiki.answers.com/Q/What_is_provident_fund_and_gratuity#ixzz1yMYBVol6
In PF a small portion of the employees salary is deducted and deposited with the government ... See Naman's complete reply
Both Gratuity and PF are social security measures for an employee. Gratuity is payable to employee on having completed 5 years of continuous service with in a company. PF is contributory fund, wherein both employee and employee contributes on monthly basis @ 12% of the basic component.
Hi Rashid,
PF is something which will be deducted from the employee salary on monthly basis and can be withdrawn after the retirement.
Gratuity is something where an employee need to withstand in a company for 5years and only then they will be eligible to go for it.
Regards
http://www.alacraft.com.au/
PF is something which will be deducted from the employee salary on monthly basis and can be withdrawn after the retirement.
Gratuity is something where an employee need to withstand in a company for 5years and only then they will be eligible to go for it.
Regards
http://www.alacraft.com.au/
PF and Gratuity both are statutory
In PF we are having option to avail loan and withdraw or transfer.
But grauity minimum five years of services must complete in the same organizations. In grauity we will not able to transfer the accumlation grauity amount to another company account
In PF we are having option to avail loan and withdraw or transfer.
But grauity minimum five years of services must complete in the same organizations. In grauity we will not able to transfer the accumlation grauity amount to another company account
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