Sir, One of the employees died in a road accident. She has completed 2 Years of service. How do we pay gratuity? Her age was 28. Kindly advise for calculation.
From India, Coimbatore
From India, Coimbatore
In cases of death, even with 2 years service gratuity is payable at the rate of 15 days salary (Basic + DA) per year of service. So pay the nominee gratuity as per following formula:
=(one month salary/26)X15X2
From India, Mumbai
1534=(one month salary/26)X15X2
From India, Mumbai
Her dependents shall be paid gratuity for service period, ie, two years, calculated at the rate of 15 days salary for every year of service. Roughly it will come to one month salary. If you have any gratuity policy taken with death cum gratuity scheme then the dependents would get gratuity based on a valuation considering salary and service till superannuation, ie 58 or 60, as the case may be.
Gratuity is calculated as follows:
Monthly Salary/ 26 X 15 X 2 years (service)
From India, Kannur
Gratuity is calculated as follows:
Monthly Salary/ 26 X 15 X 2 years (service)
From India, Kannur
Hi
In case of the employee's death there is no minimum eligibility period as the amount depends entirely on the tenure of service and last drawn salary. As per the Gratuity Act, the gratuity amount is payable up to the date of death irrespective of whether he completed five years or not. He/She can receive a maximum of Rs 20 lakhs as the gratuity amount.
If the Employer covered the employees under Group Gratuity Scheme with any insurance company then insurance company need to pay Gratuity.
From India, Madras
In case of the employee's death there is no minimum eligibility period as the amount depends entirely on the tenure of service and last drawn salary. As per the Gratuity Act, the gratuity amount is payable up to the date of death irrespective of whether he completed five years or not. He/She can receive a maximum of Rs 20 lakhs as the gratuity amount.
If the Employer covered the employees under Group Gratuity Scheme with any insurance company then insurance company need to pay Gratuity.
From India, Madras
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ESI For road accident.pdf
Road Accident.zip