1. “Employees are entitled to maturity amount under the LIC policy,”
Thus you may demand the total payment made to employer from our gartuity account. This should cover total interest paid if any too.
This should give you releif without the need to prove eligibility for interest.....................................................
You may rely upon judgement of :
Kerala High Court
Nedupuzha Service Co-Operative ... vs K.Rugmani,
“Employees are entitled to maturity amount under the LIC policy,”
“All the benefits under the Policy are to the account of the employees and nothing is retained by the employer, which by making payment of the premium, discharges it's annual liability for gratuity to the employees covered under the Scheme.”
“7. In W.A.No.1924/2010, learned counsel appearing for the respondent employees submitted that accumulated amount received from the LIC by the appellant Bank is more than what is paid to them. This is a matter for verification. Since the appellant's counsel disputed this position, there will be a direction to the LIC to furnish details of the accumulated W.A.Nos.980, 982 of 2010 & connected cases -11-amounts accrued in the account of the respondents i.e. passed on to the appellant, and if any amount in excess of the amount paid to the respondents was received by the appellant Bank, the same should be forthwith passed on to the respondents. The respondents can claim the amount based on the information received from the LIC.”
2. If you have established that the delay is not due to your fault you may stake claim for payment of Interest which is believed to be @ 10% (however you may check it)..................................from the date the amount became due to be paid to you....................................
Payment of Gratuity Act, 1972 : Section: 7: Determination of the amount of gratuity.
(3A) If the amount of gratuity payable under sub-section (3) is not paid by the employer within the period specified in sub-section (3), the employer shall pay, from the date on which the gratuity becomes payable to the date on which it is paid, simple interest at such rate, not exceeding the rate notified by the Central Government from time to time for repayment of long-term deposits, as that Government may, by notification specify:
Provided that no such interest shall be payable if the delay in the payment is due to the fault of the employee and the employer has obtained permission in writing from the controlling authority for the delayed payment on this ground.]
It shall be appropriate to show all docs to a competent and experienced labor consultant/service lawyer, give inputs in person, understand the merits, and proceed under expert advice of your lawyer.
You may proceed as deemd fit at your end.
Valuable advice of learned experts/members is sought.
