GRATUITY

Gratuity is calculated at the rate of 15 days salary for each completed year of service or part thereof in excess of six months based on last salary drawn i.e., 15/26 * Last salary * number of years of service. Salary includes Basic Pay, DA, Family Planning Increment, Old Increment, Service Weightage, Welding Allowance and Personal Pay, if any. The maximum gratuity is limited to Rs.10.0 Lakhs w.e.f 01.01.2007. The employee has to put in his claim in the prescribed form 'E' in duplicate - which will be made available by Welfare section through the respective department.


PROVIDENT FUND

The PF accumulations along with employer's share will be settled during the second week of the following month of retirement. The employee has to prefer his claim in the prescribed format a month in advance


GROUP SAVINGS LINKED INSURANCE

The contributions paid every month towards this until the date of retirement will be claimed from LIC by the HR Welfare Section and paid through Accounts/Establishment.


FINAL SALARY

The final salary pertaining to the wage period of the month of retirement will be paid as usual on salary date and will be credited to the bank account.


ENCASHMENT OF EL & HPL

The EL and HPL are encashable at the time of retirement on Superannuation/Voluntary Retirement/Pre-mature Retirement. As per the provisions of Income tax, the EL encashment amount is exempted from tax to the extent of least of the following: 1.Actual amount of earned leave encashment receivedby the employee ( or )
2.Ten months average salary ( or )
3.Rupees Three Lakhs
Half Pay Leave encashment amount is taxable. The amount on encashment will be credited to the bank account of the employee without any application from him/her.


LEAVE TRAVEL CONCESSION

A retired employee can avail LTC facility only for the available block year within six months from the date of retirement. No advance will be given.


INCOME TAX

Retiring employees are requested to produce proof of personal savings (including House Rent Receipt to avail house rent rebate) to Accounts/Establishment Section/Bldg.24 positively THREE months before retirement or end October whichever is earlier.


PENSION SCHEME

Employees, who are members of EPS are eligible to draw their monthly pension on completing 58 year of age. In case they have missed drawing the same, the following procedure is to be followed: In member of Employees Pension Scheme, seperate claim in Form 10-D has to be preferred. The form is available in Welfare Section/HR Department and the filled in forms should be handed over to PF Section/Accounts Department. The Pension Scheme is administered by the Regional Provident Fund Commissioner, Trichy and Settlement will be made directly by him. The deatils of pension eligiblity can be had from PF Secretary/Accounts Department


POST RETIREMENT MEDICAL FACILITIES:

OP treatment for dependent children can be availed on payment of monthly nominal charges: CATEGORY Rate for dependent children Executive cadre Rs.2/- per head Non-Executive Rs.1/- per head


RETIRED EMPLOYEE'S CONTRIBUTORY HEALTH SCHEME

Both outpatient and inpatient medical treatment may be availed of for self and spouse only (children not coverd under this sheme) on payment as below:
1.MEMBERSHIP FEE : One time payment equivalent to 50% of Basic Pay as on the date of retirement
2.ANNUAL REVALIDATION FEE :Rs.100/- in case of Executive cadre Rs.50/- in case of Non- Executive cadre
The Membership fee as above will be arranged to be recoverd from the final salary payable to the retiring employees if he/she so opts.


OPD REIMBURSEMENT SCHEME:

The OPD reimbursement Scheme is admissible to all RECHS Member based on their option in lieu of out-patient treatment facility. He/She is eligible for In-patient treatment only in Tiruchy BHEL hospital. A seperate In-patient card will be issued for their personal custody by Welfare section for in-patient treatment. The reimbursement of Rs.1000/- per month, for Self and/or spouse will take effect from the first day of the month on surrender of OP facilty of self and Spouse. The reimbursement will be made once in a year after the relevant finacial year by way of CHEQUE/DD through post and forwaded to the latest address furnished by the beneficiary in the claim.



DO's


  1. ENSURE THAT YOU HAVE PREFFERRED YOUR CLAIM FOR :

    • Gratuity in the prescribed Form E in duplicate along with stamped Pre-receipt in advance, since the claim has to be sent to Gratuity Trust, New Delhi for processing
    • Provident Fund with stamped pre-receipt in the prescribed format
    • Gift Cheque ( Pre-receipt)
    • Claim for GSLIS
  2. ENSURE THAT YOU HAVE SURRENDERED THE FOLLOWING FOR OBTAINING CLEARANCE FROM THE RESPECTIVE DEPARTMENT FOR EXPEDITING YOUR SETTLEMENT.

    • Your OP Book along with medical identity card and that of your family members to the Welfare Section
    • The Identity Card and also the Cycle Pass to the Securiry Department
    • The Library cards to respective Libraries ( Central, Library, Kailasapuram Club, Community Centre, HRDC and Departmental Libraries)
    • The Passport, if arranged by the Company, to Administration
    • All Company properties such as Tools, brief-cases, calculators, books, etc. in your possession to your Department
  3. VACATE COMPANY'S QUARTER ALLOTED TO YOU WITHIN THE STIPULATED TIME AND CLEAR THE DUES TOWARDS ELECTRICITY CHARGES.
  4. ENSURE THAT YOU HAVE CLEARED THE DUES TO BHE EMPLOYE'S CO-OP BANK, KAILASAPURAM CLUB AND COMMUNITY CENTRE
  5. ENSURE THAT YOU HAVE SUBMITTED YOUR FINAL CLAIMS FOR ADVANCES DRAWN BY YOU IN RESPECT OF TA, LTC, MEDICAL ADVANCE, ETC.
  6. FURNISH YOUR BANK ACCOUNT TO ACCOUNTS/ESTT. FOR CREDITING PAYMENTS LIKE BONUS, PLANT PERFORMENCE PAYMENT, WAGE REVISION ARREARS, ETC. IF ANY.
  7. SUBMIT AN AUTHORISATION LETTER FOR RECOVERY OF EXCESS AMOUNT PAID BY THE COMPANY, IF ANY, FROM YOUR FUTURE PAYMENTS
  8. ENSURE YOUR CLAIM FOR SETTLEMENT (IN A PLACE OF YOUR CHOICE WITHIN INDIA) SUCH AS TRAIN FARE, BAGGAGE ALLOWANCE AND TRANSFER GRANT IN GENUINE AND SUPPORTED BY DOCUMENTARYPROOF AND THIS BENEFIT IS AVAILED OF WITHIN A YEAR FROM THE DATE OF RETIREMENT.
  9. ENSURE YOUR LATEST ADDRESS WITH PHONE NUMBER TO ACOUNTS/ESTT, WELFARE AND PF SECTION FOR ANY CORRESPONDENCE.
  10. SUBMIT YOUR PERSONAL SAVINGS FOR INCOME TAX ETC. IN TIME TO FINANCE DEPARTMENT.
  11. AVAIL MEDICAL FACILITIES UNDER RETIRED EMPLOYEES' CONTRIBUTORY HEALTH SCHEME FOR A PERIOD OF TWO YEARS

DONT's


  1. DON'T Use Medical OP Books issued while in service for availng Medical facilities after retirement.
  2. DON'T avail Medical facilitys in Company's Hospital if you are gainfully re-employed.
  3. DON'T use the Identity card after retirement for entering into the Factory premises or for any other purpose
  4. DON'T Make any false claim for settlement benefits such as TA, Baggage Allowance, transfer Grant, etc.
  5. DON'T Enlist yourself with BHEL as Contractor/supplier or work as an employee of the contractor/supplier without the permission of the Company within a period of two years of your retirement
  6. DON'T retain Company Quarters after the stipulated time.