If you work well for a long time in a company, then that company considers you its loyal employee. For your excellent services, the company gives you reward money, which is called gratuity. Generally, the duration of employment for gratuity must be 5 years. But suppose an employee worked for 4 years and 10 months, after which he served a notice period of 2 months, will his notice period be counted in this? Know here what the rule says

Gratuity will be given even if the job is less than 5 years

The rule regarding gratuity is 5 years of service, but if an employee has worked for 4 years and 8 months in the company, then also he is considered entitled to gratuity. In such a situation, the period of 4 years and 8 months is considered as a full 5 years and he is given the amount of gratuity as per 5 years. But if he has worked for less than 4 years and 8 months, then his service period will be counted as 4 years only and in such a case he will not get gratuity.

Also Read: FD Rate Increased: Bank has Increased the Interest rate on 444 days FD to 7.85 Percent

Notice period also counts

According to the rule, while counting the duration of employment, the notice period of the employee is also counted because during that period also the employee is giving his services to the company. In such a situation, suppose you resigned after working in a company for four and a half years i.e. 4 years and 6 months, but served a notice period of two months after resignation. In such a case, your duration of employment will be counted as 4 years and 8 months only. And considering it as 5 years, the amount of gratuity will be given.

There is no 5 year rule in these situations

According to the Gratuity Act 1972, if an employee dies in an accident or becomes disabled and is unable to work again, then the rule of working for 5 years for payment of gratuity does not apply to him. In such a case, the gratuity amount is paid to the nominee or dependent. You can register the name of the nominee for your gratuity amount by filling Form F while joining the job.

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If women’s hands become strong then no one can stop India from developing. Employment among women has increased in urban areas of India. The unemployment rate of women has come down to 8.6 percent. However, women are still not able to get good jobs, which is a matter of concern.

The number of salaried women decreased

According to the data of the Ministry of Statistics and Programs, the unemployment rate of women has decreased in the July-September quarter. However, they are not able to get regular employment. Due to this, the number of salaried women has decreased to 55 percent in this quarter. Besides, the number of men doing salaried jobs has also reduced, it is now only 47 percent left. However, the number of men doing irregular jobs remained the same in this quarter also. The employment figures of cities have remained the same in the second quarter of the current financial year.

All the new jobs were provided by the agricultural sector

The survey revealed that almost all new jobs were created in the agricultural sector, while the number of jobs in other sectors has decreased. Due to sowing in Kharif season, employment in agriculture sector has increased. However, it is disappointing that these jobs will also disappear with the end of the sowing season. Therefore, the figures in the next quarter may be disappointing.

If you get work even for one hour a week, it is considered employment.
The government releases job figures in urban areas every quarter. In this survey, every person who has got even one hour of work within seven days at the time of the survey is considered employed. The unemployment rate includes persons aged 15 years and above.

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30,000 crore will be invested

A UK company is planning to set up a semiconductor plant in Odisha’s Ganjam district, for which Rs 30,000 crore will be invested in the first phase. UK-based SRAM & Technologies and its Indian arm Projects India Pvt Ltd signed a memorandum of understanding (MoU) with the state government on March 26 to set up a semiconductor plant in the state.

500 to 800 acres of land is needed

After visiting some places near Chhatrapur in the district, the officials of the Indian company held a meeting with the district administration on Thursday. Guruji Kumaran Swamy, Chairman of Projects India Private Limited and Divya Jyoti, District Magistrate of Ganjam were present in the meeting. The company needs about 500 to 800 acres of land to set up the plant.

5000 people will get employment

Tell me, a target of 2 years has been set by the company to set up the semiconductor plant. Along with this, a plan is being made to increase this project in a phased manner till the year 2027. About 5000 people can get direct jobs through this plant. With the establishment of this plant in the state, the problem of employment will also be solved.

Which products will be produced?

Many products including mobile phones, laptops, ATMs, air conditioners will be produced in this semiconductor plant. This is India’s second best news in the field of semiconductor. Earlier, the US-based Micron company had also decided to expand its semiconductor plant in Gujarat.

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Under which recently the Minister of State for Labor and Employment, Rameshwar Teli has said in the House not to make any change in the interest rate on Employees’ Provident Fund (EPF) deposits for the financial year 2021-2022. Since then, it is being expected that a big decision can be taken.

Center made a big announcement

Actually, let us tell you that during the proceedings, Rameshwar Teli was asked in the House whether the government can consider increasing the rate of interest on the Employees’ Provident Fund deposits? Giving a written reply to this, he clarified that there is no proposal to reconsider the interest rate. That is, there will be no change in the interest rate on the PF account.

Higher interest than small savings schemes

Responding to this whole matter, Minister of State for Labor and Employment, Rameshwar Teli said that the interest rate of EPF is similar to other comparable schemes like General Provident Fund (7.10 percent), Senior Citizen Savings Scheme (7.40 percent) and Sukanya Samriddhi Account Scheme (7.60 percent).

More than has already been placed. That is, according to Rameshwar Teli, the interest on PF from small savings schemes itself is high, so no consideration will be given to the interest rate hike. Let us inform here that the interest rate on EPF is being given at the rate of 8.10 percent, which will remain the same.

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7.62 lakh more members became compared to last year

The Labor Ministry said in a statement on Wednesday that according to the preliminary data of people hired in the organized sector (payroll) in the organized sector for May, 2022 released on Wednesday, the number of its subscribers has increased in the net as compared to the same period last year. There has been an increase of Rs 7.62 lakh.

9.60 lakh subscribers became the first time member

According to the data, out of the total 16.82 lakh subscribers added in May, about 9.60 lakh subscribers have been added for the first time under the Employees’ Provident Fund and Miscellaneous Provisions Act, 1952.

More than seven lakh members who changed jobs

About 7.21 lakh members rejoined EPFO ​​after leaving EPFO ​​due to change of jobs. The number of subscribers who joined EPFO ​​during May, 2022 is more than the monthly average figures of the previous financial year.

Most 22-25 year olds joined

According to age-based payroll data, the maximum increase during May 2022 was in the age group of 22-25 years. During this 4.33 lakh members of this age group joined.

Most Connected Subscribers in Maharashtra

According to the data, Maharashtra, Karnataka, Tamil Nadu, Gujarat, Haryana and Delhi have seen the maximum increase in subscribers joining EPFO. These states have net added about 11.34 lakh new subscribers during May, 2022, which is 67.42 per cent of the total number.

The number of women increased by more than 3 percent

The number of women who joined EPFO ​​in May was 3.42 lakh in net. During this period, the share of women in the total people joining EPFO ​​was 20.39 percent.

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