Gratuity is calculated as (Basic +DA)/26*15*number of completed years of service. 15 is 15 days wage for every comleted year of service.it is applicable after 5 continious years of service
1
Any employee working in an organisation for more than equal to 5 yrs is eligible for gratuity which is paid only on retirement or separation by means of resignation or termination, paid with his full n final account. it is calculated as (Basic)/26*15* no . of completed yrs of service , ie the employee is paid for 15days extra for every completed yr . if the part duration is more than 6 months it is taken as one full yr and if it is less thenit is treated null .
From India, Delhi
From India, Delhi
gratuity is calculated as under: 15/26 x pay (basic + DA)xno of years of service Period over six mths is treated as one year
From India, Delhi
From India, Delhi
- Gratuity = Monthly Salary (Basic +DA) x 15 days x No. of yrs. of service*
26 - *Completed years of service: More than 6 months service will be counted as full year of service i.e. 1 year 7 month will counted 2 years
- Max. Gratuity payable under the Act is Rs. 3,50,000*/- * Please confirm it, This is exempted from tax if drawn after the retirement or leaving the job.
From India, Jaipur
if i work less than 5 yrs in any company and join other company which also has gratuity can I get that
quote=Anurag Jain;588036]
From India
quote=Anurag Jain;588036]
- Gratuity = Monthly Salary (Basic +DA) x 15 days x No. of yrs. of service*
26 - *Completed years of service: More than 6 months service will be counted as full year of service i.e. 1 year 7 month will counted 2 years
- Max. Gratuity payable under the Act is Rs. 3,50,000*/- * Please confirm it, This is exempted from tax if drawn after the retirement or leaving the job.
From India
Sumita, No, There is an element of continuous service for 5 years with the same establishment.
From India, Jaipur
From India, Jaipur
Sumita,
They must returned it to the employee at the time of leaving; if they have made a suitable provision in their Balance Sheet; in this regard.
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From India, Jaipur
They must returned it to the employee at the time of leaving; if they have made a suitable provision in their Balance Sheet; in this regard.
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From India, Jaipur
Hi Anurag, Can you please be more specific as to how can one get the deducted money back if he or she leaves the job before five years? Regards, Mehul
From India
From India
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FORM-F-NOMINATI ON OF GRATUITY.pdf
Gratuity Form I.doc