After how much time will I get my gratuity amount from my employer and how much? I resigned from my post on 15 Dec. 2011. I worked with this company for 6 years and 1 month (and my last basic pay was $8500).
Please let me know the procedure for receiving my gratuity and the amount I am entitled to. Thank you.
From India, Chandigarh
Acknowledge(0)
Amend(0)
Please let me know the procedure for receiving my gratuity and the amount I am entitled to. Thank you.
From India, Chandigarh
Acknowledge(0)Amend(0)
This is the Monthly basic salary. Actually I want to know after how much time I’ll get my Gratuity amount?
From India, Chandigarh
Acknowledge(0)Amend(0)
From India, Chandigarh
Acknowledge(0)Amend(0)
You have to get it with your full & Final & you have to get your full & final as per the terms of your appointment.
From India, Delhi
Acknowledge(0)Amend(0)
From India, Delhi
Acknowledge(0)Amend(0)
But I got Full & Final in the first week of January. However, my HR head said that first they receive your Gratuity cheque from LIC, and then we'll transfer the funds to your bank account. Is it correct? If yes, then how much time will it take? Kindly guide me.
From India, Chandigarh
Acknowledge(0)Amend(0)
From India, Chandigarh
Acknowledge(0)Amend(0)
As per the Gratuity Act, the employer has to settle the gratuity within one month of quitting/filing of the claim form to your employer. If there is a delay, they should settle with up-to-date interest. If you require it urgently after the due date of one month, you should lodge a complaint in the prescribed form to the appropriate designated authority under the Gratuity Act for redressal.
Kumar. S.
From India, Bangalore
Acknowledge(0)Amend(0)
376Kumar. S.
From India, Bangalore
Acknowledge(0)Amend(0)
Dear Sir,
You will get gratuity as follows:
Basic salary Rs. 8500/26 days x 15 days per year x 6 years = Rs. 29,423/-
(Provided, you should have worked for 240 days each year)
D. Gurumurthy
LL, HR & IR Consultant
From India, Hyderabad
Acknowledge(0)Amend(0)
You will get gratuity as follows:
Basic salary Rs. 8500/26 days x 15 days per year x 6 years = Rs. 29,423/-
(Provided, you should have worked for 240 days each year)
D. Gurumurthy
LL, HR & IR Consultant
From India, Hyderabad
Acknowledge(0)Amend(0)
Dear Sir A person is retired on 31st dec 2011 completeing 60 years of service in Public Sector Bank. Ceiling of max Gratuity is 10 lac.How he will get gratuity amount. Anand
From India, Jaipur
Acknowledge(0)Amend(0)
From India, Jaipur
Acknowledge(0)Amend(0)
I think there is a correction; it should read as 60 years of age (instead of 60 years of service).
1. Public Sector Banks have their own gratuity schemes/rules. If so, some key parameters are required to compute the gratuity amount.
2. Date of joining & last date of duty/date retired, last pay drawn, what is the gross salary as per the gratuity scheme (some employers' schemes provide for the average salary of the 12 months preceding the retirement), the number of years/days worked in the terminal year, etc., are also required.
Kumar S.
From India, Bangalore
Acknowledge(0)Amend(0)
1. Public Sector Banks have their own gratuity schemes/rules. If so, some key parameters are required to compute the gratuity amount.
2. Date of joining & last date of duty/date retired, last pay drawn, what is the gross salary as per the gratuity scheme (some employers' schemes provide for the average salary of the 12 months preceding the retirement), the number of years/days worked in the terminal year, etc., are also required.
Kumar S.
From India, Bangalore
Acknowledge(0)Amend(0)
Gratuity can be released with one months, else employee has right to made complaints with competent authority and they will pay with interest. Arun
From India, Delhi
Acknowledge(0)Amend(0)
From India, Delhi
Acknowledge(0)Amend(0)
Employees receive their gratuity from their employers either in full and final settlement or within a month. If not, the employee has the right to approach the area labor inspector with a complaint.
Secondly, gratuity is calculated as basic salary divided by 26, multiplied by 15, and then multiplied by the number of years of service. In your case, your gratuity would be calculated as 8500/26*15*6=29423/-.
From India, Delhi
Acknowledge(0)Amend(0)
Secondly, gratuity is calculated as basic salary divided by 26, multiplied by 15, and then multiplied by the number of years of service. In your case, your gratuity would be calculated as 8500/26*15*6=29423/-.
From India, Delhi
Acknowledge(0)Amend(0)Looking for something specific? - Join & Be Part Of Our Community and get connected with the right people who can help. Our AI-powered platform provides real-time fact-checking, peer-reviewed insights, and a vast historical knowledge base to support your search.
SBT Vs Asst. Labour Commissioner- Gratuity dismissed employee-LTS.PD F
Payment of Gratuity Act, 1972 & The Rules.ppt
Gratuity calculation.doc