• What is Provident Fund? It is a mandatory, tax qualified, Statutory benefit plan where in equal contribution at the rate of 12% of basic salary is made by the employee and employer.
• What is Voluntary Provident Fund (VPF) Scheme? An employee can contribute voluntarily in addition to the 12% statutory Employee PF contribution. Such voluntary contribution will not be matched by the employer's contribution.
• Who administers the PF Scheme for Honeywell? Provident Fund scheme is administered by C-Quel Management Services.
• How will I get to know the PF Balance? Employees Provident Fund Organization RPFC has Employee balances on their web portal http://uanmembers.epfoservices.in employees can check their P.F. balances by logging on to the same.
• Common mistakes which cause rejection of PF Forms? Transfer
  • Data mismatch (Employee Name, Father Name, DOB, DOJ, gender etc)
  • Data missing in Employee records (Employee Name, Father Name, DOB, DOJ..etc)
  • Employee signature missing
  • Providing incorrect PF numbers
  • Providing incorrect employer name
  Withdrawal
  • Providing joint bank account instead individual bank account number
  • Providing incomplete bank account details or cheque leaf without  your name printed on it
  • Data mismatch (Employee Name, Father Name, DOB, DOJ..etc)
  • Data missing in Employee records (Employee Name, Father Name, DOB, DOJ..etc)
  • Employee signature missing
  • Providing incorrect PF numbers
  • Providing incorrect employer name
  • Not enclosing all required documents

• What is Gratuity? Gratuity is one of the retirement benefits offered by the employer to the employee for continuous service of 5 years in the organization. It is paid to the employee upon separation (resignation, death, retirement or termination) after the defined period.
• Who becomes eligible for Gratuity? Employees are eligible for Gratuity only if completed 5 years ( ( 4 years 190days) continuous service with Honeywell India
• How is Gratuity calculated? Benefit under Gratuity is calculated as under: 15/26 * last drawn monthly basic salary * number of years of service.
• Is Gratuity Taxable? Any Gratuity amount received up to Twenty Lakhs (Rs. 20,00,000/-) in a life time is exempt from Income tax. Over and above the limit, will attract Income tax. Eligible employees need to provide declaration of receipt of Gratuity from previous employer at the time of leaving the organization.
• When should I provide nomination for gratuity? Nomination for gratuity is generally given at the time of joining/during inter entity transfer. Nominations can also be reviewed and updated in case of any life event changes viz., marriage, birth of child etc
• Can an employee / beneficiary claim Gratuity even before completion of 5 years? Yes, beneficiary can claim gratuity under the followings cases:
  • Death (to be claimed by the beneficiary)
  • Disablement
  However any employee who gets transferred outside India within Honeywell are eligible to claim ex-gratia in lieu of gratuity which is taxable as per their tax slabs.
• Can employer forfeit Gratuity, even if employee has completed five years? Yes, employer can forfeit gratuity in following cases:
  • If the services of such employee have been terminated for his riotous or disorderly conduct or any other act of violence on his part, or
  • If the service of such employee have been terminated for any act which constitutes an offense involving moral turpitude, provided that such offense is committed by him in the course of his employment.
• How is service rendered in different Honeywell entities considered for gratuity payout? The entire service rendered with Honeywell India entities would be considered for gratuity payout at the time of leaving the organization.
• How to treat number of months for the purpose of gratuity calculation after completion of 4 yrs 190 days? If an employee has worked for 5 years and 7 months then for the purpose of gratuity payment, 7 months will be rounded off to a year and he will get gratuity for 6 years in case employee has worked for 5 years and 5 months then he will be eligible for 5 years gratuity payment only.

For Any PF & Gratuity queries you may write to [email protected]