Accrued Gratuity definition

Accrued Gratuity. The benefits payable by way of Gratuity in respect of a Member for the period of service rendered by him with the Employer as per the terms of the employment.
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Examples of Accrued Gratuity in a sentence

  • Gratuity: If Benefits Payable are as per Payment of Gratuity Act The benefits payable for any Member from the Fund shall be Accrued Gratuity equal to 15 days’ salary (last drawn prior to the date of the termination of the Member’s Service with the Employer) for each year of completed Service, computed as per the provisions of and, subject to the maximum limits specified under the Payment of ▇▇▇▇▇▇▇▇ ▇▇▇, ▇▇▇▇, as amended from time to time.

  • If Benefits Payable are as per Payment of Gratuity Act After completion of 5 years of Service, the benefits payable for any Member from the Fund shall be Accrued Gratuity equal to 15 days’ Salary (last drawn prior to the date of the termination of the Member’s Service with the Employer) for each year of completed Service, computed as per the provisions of and subject to the maximum limits specified under the Payment of ▇▇▇▇▇▇▇▇ ▇▇▇, ▇▇▇▇, as amended from time to time.

  • In case the Group Life Cover for any Insured Member under this Group Policy is equal to the difference between the Total Statutory Gratuity Benefits, and the Accrued Gratuity of the Member concerned, the Group Life Cover for the Members joining the Group Policy on the Effective Date of Group Policy shall commence from the same date.

  • MAYOR PRESIDENT ADMINISTRATOR SECRETARY As of December 31, 1995 Name Age Date of Employment Accrued Unused Sick Leave Accrued Gratuity Capt.

  • In case the maximum Group Life Cover for any Insured Member under this Group Policy is restricted to the difference between the Total Statutory Gratuity Benefits, and the Accrued Gratuity of the Member concerned, the Group Life Cover for the Members joining the Group Policy on the Effective Date of Group Policy shall commence from the same date.

  • Company The liability of the Company in respect of any Accrued Gratuity of Members shall strictly be restricted to the balance lying in the Account Value of the Group Policy Holder.

  • If Benefits Payable are as per Payment of Gratuity Act After completion of 5 years of Service, the benefits payable for any Member from the Fund shall be Accrued Gratuity equal to 15 days’ Salary (last drawn prior to the date of the termination of the Member’s Service with the Employer) for each year of completed Service, computed as per the provisions of and subject to the maximum limits specified under the Payment of Gratuity Act, 1972, as amended from time to time.

  • Gratuity: If Benefits Payable are as per Payment of Gratuity Act The benefits payable for any Member from the Account shall be Accrued Gratuity equal to 15 days’ salary (last drawn prior to the date of the termination of the Member’s Service with the Employer) for each year of completed Service, computed as per the provisions of and, subject to the maximum limits specified under the Payment of Gratuity Act, 1972, as amended from time to time.

  • Company The liability of the Company in respect of any Accrued Gratuity of Members shall strictly be restricted to the Fund Value of the Group Policy Holder.