Ex-gratia

Sudha (Sr Manager HR/Admin) (28 Points)

26 June 2013  

 

if the exgratia is included in monthly CTC (i.e. the sum is being deducted from monthly CTC and being reimbursed once in a year), can it be claimed by an employee who leaves the company within a year's period? I know that exgratia can not be claimed asa legal right of bonus (by people having ctc more than 10000) but if it constitues a part of monthly CTC , can it be claimed while F&F?  please advise!

 


 1 Replies

Rama chary Rachakonda (Master in Accounts & Lawyer email ID:ramachary64@gmail.com voice no:9989324294)   (5273 Points)
Replied 06 July 2013

sum of money paid when there was no obligation or liability to pay it. For example, a lump sum payment over and above the pension benefits of a retiring employee. In insurance claims, it may take the form of payment for which the insurer did not appear to be liableEx gratia is Latin for "out of goodwilll." Also called ex gratia settlement.
 



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