Gratuity Fund

VMware provides a Gratuity Fund in accordance with the Payment of Gratuity Act 1972.

Eligibility

All employees of VMware India are eligible for participation in the Gratuity Fund.

Normal Retirement Benefits

Upon retirement of a member on normal retirement date, you will be paid fifteen days of your last drawn basic salary for each completed year of service, subject to a maximum total payment of INR 2,000,000.

Leaving Service Benefits

When you complete 4 years and 8 months of service at VMware, you will be paid fifteen days of your last drawn basic salary for each completed year of service, subject to a maximum total payment of INR 2,000,000.

Death

Upon death of a member while in service before normal retirement date, your beneficiary will be paid fifteen days salary for each completed year of service subject to a maximum total payment of INR 2,000,000.

Disability

If you should become disabled while in service before normal retirement date you or your beneficiaries will be paid fifteen days salary for each completed year of service subject to a maximum total payment of INR 2,000,000.

Benefit Payable = Salary * Tenure *15/26

  • Salary is your Monthly Basic Salary plus Dearness Allowance
  • Tenure is the Number of years of service.
  • There are 15 days for which salary is considered per month.
  • There are 26 working days in a month, regardless of whether you have 5 day work week or 6 day work week

VMware Contributions

VMware pays 100% of the cost for the Gratuity Fund.

Nomination Details

In case of a Qualified Life Event, you have an option to update your beneficiary details by signing a hard copy of Form F and submitting at the VMware Kalyani Vista, Bangalore office.

Contact Us

Contact HR Source [VMware network access required]
ASK HR [VMware network access required]
Phone: (+91) 8067642555

Resources

Gratuity Declaration Form
Gratuity Fund Nomination Details Form F

Last Updated: 13 Sep 2021, 4:26 AM