Respected Seniors
My Salary components are:
Basic Pay Rs.9100
Dearness Pay Rs.4550
Dearness Allowance Rs.17336
Total Rs.30986
And other allowances like HR CCA Med.allow etc.
Gratuity under, Gratuity Act, is payable on last drawn salary basis. Please advise whether Dearness Pay is to be taken into consideration while computing Gratuity. Further I have put in 36 years of service, is there any limit to service under the Act? If yes, then what is the formula to calculate? I am working as a teacher in unaided minority private school in Delhi. The limit under Gratuity Act has been amended to Rs.10 lac from Rs.3.50 lac. Am I entitled to enhanced payment under the Act?
Regards
Sukhi
From India, Delhi
My Salary components are:
Basic Pay Rs.9100
Dearness Pay Rs.4550
Dearness Allowance Rs.17336
Total Rs.30986
And other allowances like HR CCA Med.allow etc.
Gratuity under, Gratuity Act, is payable on last drawn salary basis. Please advise whether Dearness Pay is to be taken into consideration while computing Gratuity. Further I have put in 36 years of service, is there any limit to service under the Act? If yes, then what is the formula to calculate? I am working as a teacher in unaided minority private school in Delhi. The limit under Gratuity Act has been amended to Rs.10 lac from Rs.3.50 lac. Am I entitled to enhanced payment under the Act?
Regards
Sukhi
From India, Delhi
Gratuity is calculated on Basic +DA ..
Its calculated for 15days of a year salary. ie. last drawn salary *15*service years/26
As in gratuity Act 26 days is taken for 1mnth service , 4 days being w/off.
Gratuity limit is 10,000,00/-. It can be paid more than 10lkhs, but that exceeding amount than 10lkhs will be paid under diffrnt head, but not gratuity, as the max ceiling is 10lkhs. More than 10 lkhs its taxable.
Yes you are entitled to avail the ammended value, ie 10lkhs.
till now you are having 36 years , so total service years is 36 for you, no limit on service.
From India, Calcutta
112Its calculated for 15days of a year salary. ie. last drawn salary *15*service years/26
As in gratuity Act 26 days is taken for 1mnth service , 4 days being w/off.
Gratuity limit is 10,000,00/-. It can be paid more than 10lkhs, but that exceeding amount than 10lkhs will be paid under diffrnt head, but not gratuity, as the max ceiling is 10lkhs. More than 10 lkhs its taxable.
Yes you are entitled to avail the ammended value, ie 10lkhs.
till now you are having 36 years , so total service years is 36 for you, no limit on service.
From India, Calcutta
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SALARY CAN BE SPLIT INTO COMPONENTS BUT NOT LESS THAN THE MINIMUM WAGES.docx