Railway Accounts Department Examinations

Showing posts with label Gratuity. Show all posts
Showing posts with label Gratuity. Show all posts

Friday, May 31, 2024

DCRG - Death Cum Retirement Gratuity

 DCRG - Death Cum Retirement Gratuity




> With effect from 1st January 2024 .


> Maximum DCRG - Death cum Retirement Gratuity - Rs. 25 Lakhs (from Rs. 20 Lakhs)


(Due to increasing of DA - Dearness Allowance from 46% to 50%)

Tuesday, January 17, 2023

Gratuity

 

 Retirement Gratuity


  • In addition to the monthly pension, Retirement   Gratuity is also paid to the employee on retirement. 


  • This is a one time payment of a lump-sum amount.


  • For retirement Gratuity employees should have rendered more than 5 years qualifying service. 


  • Retirement Gratuity is equal to:- 


  • “¼ th of emoluments for each completed six monthly period of service (or) 16 ½ times of emoluments (or) 20 Lakh rupees, Whichever is less.”    


  • Emoluments means Basic Pay + DA .


  • For Running staff  55% and for Railway Doctors 20% of pay is added to the Basic pay.

                                                        

Key points for MCQ on Retirement Gratuity 


  1. Minimum qualifying Service  - 5 years

  2. Equal to 1/4th emoluments for each completed six months qualifying service or 16 ½ times of emoluments or Rs. 20 Lakhs whichever is less

  3. Emoluments = Basic Pay + DA

  4. Running Staff - 55% of Basic Pay is added to the Basic Pay. 

  5. Doctors  - 20% of Basic Pay is added to the Basic Pay. 

Death Gratuity 


  • If the employee dies while in service, his spouse is paid Death Gratuity as under:

 

  • If the employee dies with service of :



Service

Amount of 

Death Gratuity (Rs)

_____ of emoluments

Less than 1 year

2 times 

1 year to less than 5 years

6 times

6 years to less than 11 years

12 times

11 years to less than 20 years

20 times

20 years and more

Half of emoluments for every completed 6 months service or 33 times or Rs.20 Lakhs whichever is less




  • Emoluments = Basic Pay + DA

 

  • For Running staff  55% and for Railway Doctors 20% of pay is added to the Basic pay.


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