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R P Yadav  |293 Answers  |Ask -

HR, Workspace Expert - Answered on Feb 23, 2024

R P Yadav is the founder, chairman and managing director of Genius Consultants Limited, a 30-year-old human resources solutions company.
Over the years, he has been the recipient of numerous awards including the Lifetime Achievement Award from World HR Congress and HR Person Of The Year from Public Relations Council of India.
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dr Question by dr on Feb 07, 2024Hindi
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i served education institute as approved Asso Professor. superannuated before 2 years but no gratuity is paid.what next?

Ans: If you have superannuated from an educational institute and have not received your gratuity even after two years, you should take the following steps:

Check Employment Contract or Policy:

Review your employment contract or the institute's policy to understand the terms and conditions regarding gratuity. It should outline the eligibility criteria and the process for payment.
Contact HR or Administration:

Reach out to the Human Resources (HR) department or administration of the educational institute. Inquire about the status of your gratuity and seek clarification on any delays.
Written Communication:

If verbal communication does not yield results, send a written communication (email or letter) to the HR department, clearly stating the issue, mentioning your superannuation date, and seeking information on the status of your gratuity.
Gather Documentation:

Ensure you have all the necessary documentation related to your employment, superannuation, and gratuity. This may include appointment letters, salary slips, and any other relevant records.
Legal Consultation:

If your attempts to resolve the issue internally are unsuccessful, consider seeking legal advice. Consult with a lawyer who specializes in labor or employment law to understand your rights and options.
Labor Department Complaint:

In some jurisdictions, labor departments or government authorities handle labor-related disputes. You may file a complaint with the appropriate labor department or ombudsman, providing details of the non-payment of gratuity.
Employee Welfare Associations:

If applicable, involve any employee welfare or union representatives who may assist in addressing the issue.
Mediation or Conciliation:

Some jurisdictions have mediation or conciliation services to resolve employment-related disputes. Explore these options as an alternative to legal action.
Legal Action:

If all else fails, you may need to consider legal action to claim your gratuity. Your lawyer can guide you on the appropriate legal steps to take in your jurisdiction.
It's crucial to act promptly and keep records of all communication related to the non-payment of gratuity. The specific steps and options available to you may vary depending on the labor laws in your country or region. Consulting with a legal professional familiar with local employment laws is advisable to ensure you take the most appropriate course of action.
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hi sir : my son doing job since two year monthly earning is 60 K. but his saving is nil. pl. advice where to invest
Ans: It's great that your son has started earning, and it's essential to guide him on saving and investing for the future. Here's a step-by-step investment plan tailored for him:

Emergency Fund: Start by building an emergency fund equivalent to 3-6 months of expenses. This fund should be easily accessible, like a savings account or a liquid fund.
Debt Repayment: If he has any high-interest debts like credit card bills or personal loans, it's wise to clear those first to avoid paying hefty interest.
Investment Options:
Equity Mutual Funds: For long-term wealth creation, he can start SIPs in diversified equity funds. A mix of large-cap, mid-cap, and multi-cap funds can provide growth.
PPF (Public Provident Fund): A tax-efficient and safe option for long-term savings with a lock-in period of 15 years.
NPS (National Pension System): A retirement-focused investment with tax benefits, offering a mix of equity, corporate bonds, and government securities.
Term Insurance: Since he's working, consider getting a term insurance plan to ensure financial security for his dependents.
Health Insurance: A comprehensive health insurance plan to cover medical emergencies can provide financial security and tax benefits.
Budgeting and Savings: Encourage him to create a monthly budget to track expenses and identify areas to save. Automating investments through SIPs can also help in disciplined saving.
Financial Education: Educate him about the importance of financial planning, saving, and investing. Encourage him to read books or attend workshops on personal finance.
Starting early with disciplined saving and investing can help him build a substantial corpus over time. Encourage him to consult a financial advisor for personalized guidance tailored to his financial goals and risk tolerance.
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Hi Anil, I am 43 years old. I have a monthly sip of 35k going on. I have started investing in mutual fund and sip from year 2013. Total mutual fund plus sip current market value is 1 core 9 lakhs . I plan to invest 35 k per month more for 7 to 8 years , when i want to leave job and do something else. Can you tell me what will be my corpus in 7 to 8 years down the line taking both current valution plus what i am going to continue investing?Also, i have another 1 corore total in other investment like Voluntary provident fund, Epf, ppf and esops from my company and pension fund . Here i do a monthly investment of around 80 k via mostly through company for tax savings. So what will be my total corpus after 7 to 8 yrs. Also, is it good for retirement considering my current monthly expense us 1 lakh.
Ans: To estimate your corpus after 7 to 8 years, let's assume an average annual return on your mutual fund SIPs at 10-12% and a similar return on your other investments.

For Mutual Funds:

Future Value of Current Investments: Using the future value formula, considering an average return of 10-12%, your current 1.09 crore can grow to approximately 2.2 - 2.5 crores in 7-8 years.
Future Value of Additional SIPs: Investing 35k per month for 7-8 years, at an average return of 10-12%, you could accumulate around 50 - 60 lakhs from SIPs alone.
For Other Investments:

Future Value of Current Investments: Assuming an average annual return of 10-12%, your current 1 crore can grow to approximately 2 - 2.4 crores.
Future Value of Additional Investments: With 80k monthly investments for 7-8 years, at an average return of 10-12%, you could accumulate around 1.5 - 1.8 crores.
Total Corpus After 7-8 Years: Combining both, your total corpus could range from 5.2 - 6.2 crores.

Retirement Planning:
Considering your monthly expense is 1 lakh, with a corpus of 5.2 - 6.2 crores, you can generate approximately 40-50k per month (assuming a 7-8% withdrawal rate) post-retirement. This should be sufficient considering your current expenses, but inflation and unforeseen expenses should also be considered.

It's advisable to consult a financial advisor for a detailed plan tailored to your needs, considering inflation, tax implications, and other factors.
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