Dear Sir, Please guide us what the maximum salary limit for gratuity payment? Thanking You, Akhilesh
From India, Mumbai
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5From India, Mumbai
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There is no wages limit in it . It gives on Last Basic + DA . Gratuity limit is 10 Lcs .
From India
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From India
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Dear, Gratuity is calculated on last drawn salary (Basic), formula is last basic+da/26days*15days*number of years completed=gratuity.
From India, Pune
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From India, Pune
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Dear Akhilesh,
Greetings for the day.
In addition to Fogat and Amar's answers, I would like to emphasize that for the payment of gratuity, a minimum of 5 years of service is compulsory, and in each year, the number of working days should not be less than 240.
Thanks and Regards,
Sumit Kumar Saxena
From India, Ghaziabad
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Greetings for the day.
In addition to Fogat and Amar's answers, I would like to emphasize that for the payment of gratuity, a minimum of 5 years of service is compulsory, and in each year, the number of working days should not be less than 240.
Thanks and Regards,
Sumit Kumar Saxena
From India, Ghaziabad
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Dear Sumit, If employee has not worked for 240 days suppose he has worked only 230 days in any one year out of five year so is he not eligible for gratuity?
From India, Pune
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From India, Pune
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Dear Sir, Please guide about the meaning of last basic salary used in above.
From India, Bhopal
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From India, Bhopal
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Last basic salary means at the time of leaving service whatever basic salary employee has
From India, Pune
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From India, Pune
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Hi Amar,
You don't have to calculate whether an employee completes 240 days in a year to determine eligibility. An employee who served for 4 years and even a fraction of six months counts for eligibility.
Thank you.
From India, Hyderabad
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You don't have to calculate whether an employee completes 240 days in a year to determine eligibility. An employee who served for 4 years and even a fraction of six months counts for eligibility.
Thank you.
From India, Hyderabad
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Dear All, Maximum gratuaty= 3.5 L. Formula=Basic + D.A./26*15*no.of years. Regards, Ashish 09469489001
From India, Velluru
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From India, Velluru
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gratuity calculation formula is last drawn basic+da*26*15*no of years worked
From India, Delhi
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From India, Delhi
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Do private company pay "Gratuity" ? I’ve heard only in the government jobs but never heard in any private companies.
From India, Noida
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From India, Noida
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I would like to know the present formulae to calculate the gratuity applicable to an employee, worked for ten years, for a self-financing college, run by a trust, in coimbatore, tamilnadu
From India, Coimbatore
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From India, Coimbatore
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If suppose total working of an employee is 5 years and 8 months so what will be the actual year will be taken i.e. 5 yrs as completed years or 6 years as a round off..???? kindly help
From India, New Delhi
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From India, New Delhi
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Sir,
I want to purchase a consolidated book for more details about the Payment of Gratuity Act, Bonus Act, Leave rules, Wages Act and Rules, PF, ESI, etc., in detail. Please help and oblige and provide the address.
Regards,
Ashraf
8009002555
From India, Jaipur
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I want to purchase a consolidated book for more details about the Payment of Gratuity Act, Bonus Act, Leave rules, Wages Act and Rules, PF, ESI, etc., in detail. Please help and oblige and provide the address.
Regards,
Ashraf
8009002555
From India, Jaipur
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Well, Gratuity amount is limited to 10 lacs but there’s no salary limit defined for the eligibility for gratuity.
From India, Lucknow
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From India, Lucknow
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Thank you for your quick response to my query regarding the gratuity formula. I would like to understand the formula that needs to be followed as per labor rules for the encashment of non-availed earned leave. I have been employed at a Trust in Coimbatore, Tamil Nadu.
Once again, thank you.
Regards,
Raman
From India, Coimbatore
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Once again, thank you.
Regards,
Raman
From India, Coimbatore
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Gratuity is calculated on the last drawn salary (Basic). The formula is last basic + DA / 26 days * 15 days * number of years completed = gratuity.
Dear All,
"DA" means Dearness Allowance. In my concern, the Basic is Rs. 6500/-, but there is no information on Dearness Allowance in the Appointment Letter and Payslip as well. If there is no Dearness Allowance for me, what is the calculation? Basic / 26 days * 15 days * number of years completed = gratuity. (Is it correct?) Why 26 days and 15 days in the formula?
My Gratuity Contribution is Rs. 312/- for the month.
Waiting for your reply, Seniors.
From Czech Republic, Prague
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Dear All,
"DA" means Dearness Allowance. In my concern, the Basic is Rs. 6500/-, but there is no information on Dearness Allowance in the Appointment Letter and Payslip as well. If there is no Dearness Allowance for me, what is the calculation? Basic / 26 days * 15 days * number of years completed = gratuity. (Is it correct?) Why 26 days and 15 days in the formula?
My Gratuity Contribution is Rs. 312/- for the month.
Waiting for your reply, Seniors.
From Czech Republic, Prague
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Dear Bunti Please note that the maximum gratuity amount is 10 lakhs. Manokavi
From India, Coimbatore
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From India, Coimbatore
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Dear Vinoth,
26 days counted as working days in a month means if you divide your last basic + DA by 26 days, then you will get one day's salary. As per the gratuity act, per year, you get 15 days' salary, which means you can calculate like this: your basic + DA / 26 = one day of gratuity, then multiplied by 15 days to get one year of gratuity, and then multiplied by the number of years you have completed in your service.
From India, Pune
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26 days counted as working days in a month means if you divide your last basic + DA by 26 days, then you will get one day's salary. As per the gratuity act, per year, you get 15 days' salary, which means you can calculate like this: your basic + DA / 26 = one day of gratuity, then multiplied by 15 days to get one year of gratuity, and then multiplied by the number of years you have completed in your service.
From India, Pune
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Dear All, Pl guide me If an employee completed 4 years,six month and one day then is he/she entitled for gratuity. Regards, Manas
From India, Delhi
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From India, Delhi
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Dear all Can anyone tell me the eligibility for the entitlement of gratuity to any employee and what is the role of age factor. Vivek
From India, New Delhi
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From India, New Delhi
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Dear Manokavi, Can you explain in detail the gratuity amount (10 lacs).. Vivek
From India, New Delhi
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From India, New Delhi
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There is no maximum limit for gratuity calculation. Entitlement: Sec-2(e) on completion of five years of service except in the case of death or disablement. Qualifying Period: On rendering 5 years of service through termination, resignation, or retirement. Wages Means: Basic + DA Wages for Calculation: Sec-2(s) at 15 days' wages for every completed year as if the month comprises 26 days at the last drawn salary. (Basic + DA / 26) * 15 * Number of completed years of service. Total Ceiling: Rs. 10,00,000
From India, Kota
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From India, Kota
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I have a basic salary only; no Dearness Allowance is reflected in the Payslip. DA is hidden in the Payslip, or I don't have DA. If I don't have DA, the formula becomes Basic instead of Basic + DA. Am I correct?
What about the loss of DA, and what is LTA? One of my superiors has LTA, but I don't get that. What is the role of pay, and what is LTA?
Regards, S. Vinoth Kumar
From Czech Republic, Prague
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What about the loss of DA, and what is LTA? One of my superiors has LTA, but I don't get that. What is the role of pay, and what is LTA?
Regards, S. Vinoth Kumar
From Czech Republic, Prague
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