Hi Minimum how many persons required, for applicable for payment of gratuity act,1972 Regards Murthy
From India, Hyderabad
19From India, Hyderabad
Dear Murthy,
According to the P G Act, 1972 this Act applies to every factory, mine, oilfield, plantation, port & railway company. It also applies to every shop or establishment within the meaning of any law for the time being in force in relation to shops & establishments in a state, in which ten or more persons are employed or were employed on any day of the preceding twelve months.
With Regards,
R.N.Khola
From India, Delhi
According to the P G Act, 1972 this Act applies to every factory, mine, oilfield, plantation, port & railway company. It also applies to every shop or establishment within the meaning of any law for the time being in force in relation to shops & establishments in a state, in which ten or more persons are employed or were employed on any day of the preceding twelve months.
With Regards,
R.N.Khola
From India, Delhi
Thanks for both Mr.Prashant and Mr. R.N.Khola
one more clarification is there,
DOJ = 14/01/2004
DOL = 04/01/2010
In Jan,2010 Basic Salary = 5724
HRA = 2862
LTA = 1250
Medical allowance = 1250
Company allowance = 3606
Adv.Bonus = 700
Total Earnings = 15392
PF = 687
PT = 100
Net Earnings = 14605
In this case how we have to calculate the gratuity
Regards
Murthy
From India, Hyderabad
one more clarification is there,
DOJ = 14/01/2004
DOL = 04/01/2010
In Jan,2010 Basic Salary = 5724
HRA = 2862
LTA = 1250
Medical allowance = 1250
Company allowance = 3606
Adv.Bonus = 700
Total Earnings = 15392
PF = 687
PT = 100
Net Earnings = 14605
In this case how we have to calculate the gratuity
Regards
Murthy
From India, Hyderabad
Dear Murthy,
we are to make payment of gratuity to this employee in accordance with section 4 of the P G Act, 1972 & for consideration of wages pm for calculation purposes plz go through the definition of wages under section 2(s) of this Act.
With Regards,
R.N.Khola
From India, Delhi
we are to make payment of gratuity to this employee in accordance with section 4 of the P G Act, 1972 & for consideration of wages pm for calculation purposes plz go through the definition of wages under section 2(s) of this Act.
With Regards,
R.N.Khola
From India, Delhi
Gratuity = last Drawn wages* No of Years of service *15/26
Gratuity = 5724* 6 years *15/26
Gratuity = 19813.85
Gratuity = 19814 ( Rounded Off Figure )
Thanks for both Mr.Prashant and Mr. R.N.Khola
one more clarification is there,
DOJ = 14/01/2004
DOL = 04/01/2010
In Jan,2010 Basic Salary = 5724
HRA = 2862
LTA = 1250
Medical allowance = 1250
Company allowance = 3606
Adv.Bonus = 700
Total Earnings = 15392
PF = 687
PT = 100
Net Earnings = 14605
In this case how we have to calculate the gratuity
Regards
Murthy
From India, Pune
Gratuity = 5724* 6 years *15/26
Gratuity = 19813.85
Gratuity = 19814 ( Rounded Off Figure )
Thanks for both Mr.Prashant and Mr. R.N.Khola
one more clarification is there,
DOJ = 14/01/2004
DOL = 04/01/2010
In Jan,2010 Basic Salary = 5724
HRA = 2862
LTA = 1250
Medical allowance = 1250
Company allowance = 3606
Adv.Bonus = 700
Total Earnings = 15392
PF = 687
PT = 100
Net Earnings = 14605
In this case how we have to calculate the gratuity
Regards
Murthy
From India, Pune
Dear all
Often we receive calls on how to calculate gratuity i.e. if we say five and half years we have to take six years service but how about four and half years whether it has to consider five years or not.
As per Payment of Gratuity Act, 1972, the eligibility is five years then only an employee will be eligibile for Gratuity but if he has completed four and half half he is not at all eligibile for Gratuity.
Regards,
M Srinivas
Ramky Group of Companies
Hyderabad Waste Management Project
Hyderabad
9866005600
From India, Hyderabad
Often we receive calls on how to calculate gratuity i.e. if we say five and half years we have to take six years service but how about four and half years whether it has to consider five years or not.
As per Payment of Gratuity Act, 1972, the eligibility is five years then only an employee will be eligibile for Gratuity but if he has completed four and half half he is not at all eligibile for Gratuity.
Regards,
M Srinivas
Ramky Group of Companies
Hyderabad Waste Management Project
Hyderabad
9866005600
From India, Hyderabad
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Payment of Gratuity Act, 1972 & The Rules.ppt
THE PAYMENT OF GRATUITY ACT 1972.doc