One of our employee has been expired by a road accident. In this situation, I would like to know the calculation of gratuity payment.
Kindly guide me.
I am furnishing the details for reference.
Date of Birth - 21/08/1971
Joining date - 09/12/2002
Retirement date - 31/08/2029
Service period as on date - 19 years 4 months
Last basic drawn - Rs. 14910/-
Regards
Tarak Shaw
From India, Kolkata
4Kindly guide me.
I am furnishing the details for reference.
Date of Birth - 21/08/1971
Joining date - 09/12/2002
Retirement date - 31/08/2029
Service period as on date - 19 years 4 months
Last basic drawn - Rs. 14910/-
Regards
Tarak Shaw
From India, Kolkata
Dear Tarak Shaw,
In case of death of the employee while in service, only the minimum qualifying service of five years is not necessary.
In the case cited, the gratuty for the entire service rendered so far upto the date of death of the employee shall be calculated and paid to the nominee or in the absence of nomination, the amount thus calculated shall be deposited with the Controlling Authority under the PGA,1972 for the area for disbursement after an inquiry.
From India, Salem
In case of death of the employee while in service, only the minimum qualifying service of five years is not necessary.
In the case cited, the gratuty for the entire service rendered so far upto the date of death of the employee shall be calculated and paid to the nominee or in the absence of nomination, the amount thus calculated shall be deposited with the Controlling Authority under the PGA,1972 for the area for disbursement after an inquiry.
From India, Salem
Gratuity is to be paid based on the formula given below:
{(Basic Pay + DA) X 15/26}X No. of completed years of service. (Six months or more would be calculated as one year and less than six months to be ignored. This calculation is as per Payment of Gratuity Act 1972
From India, Mumbai
{(Basic Pay + DA) X 15/26}X No. of completed years of service. (Six months or more would be calculated as one year and less than six months to be ignored. This calculation is as per Payment of Gratuity Act 1972
From India, Mumbai
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