Hi Shwetha,
One point which is missed out is that you the maximum Gratuity is Rs 3.5 lakhs and in case it is more than that it is left to management to decide on whether to pay or not. And the amount above Rs 3.5 lakhs is taxable. For your reference i have given you the link of one more discussion on the same topic. I hope this will be of some use for you.
<link no longer exists - removed>
Regards
Amith R.
From India, Bangalore
16One point which is missed out is that you the maximum Gratuity is Rs 3.5 lakhs and in case it is more than that it is left to management to decide on whether to pay or not. And the amount above Rs 3.5 lakhs is taxable. For your reference i have given you the link of one more discussion on the same topic. I hope this will be of some use for you.
<link no longer exists - removed>
Regards
Amith R.
From India, Bangalore
Hi friends,
Kindly let me know whether the gratuity amount should be given from the company or should it be deducted from the employee's salary.... Is there any tax benefit for the company...
Thanks
Sowmya
From India, Madras
Kindly let me know whether the gratuity amount should be given from the company or should it be deducted from the employee's salary.... Is there any tax benefit for the company...
Thanks
Sowmya
From India, Madras
Dear All,
I have a one query, In our organisation one of our employee was left his job and he has completed 4 years and 9 months service, Please suggest me is he is applicable for gratuity or not ?????????????????? very urgent. As per the factories act he has not completed his 240 working days in his last year service.
Anil Bhoite
From India, Mumbai
I have a one query, In our organisation one of our employee was left his job and he has completed 4 years and 9 months service, Please suggest me is he is applicable for gratuity or not ?????????????????? very urgent. As per the factories act he has not completed his 240 working days in his last year service.
Anil Bhoite
From India, Mumbai
HiI agree with selvaraj, ;Gratuity as per act payable to employees who have put in long service in a company, so whoever completed 05 years of continuous service will be eligble for gratuity.Many company have created a gratuity fund in LIC or in Banks to keep a reserveThe calculations are same as selvaraj explainedThere is a limit of Rs. 5,00,000 lacsregdsravindra
From India, Bangalore
From India, Bangalore
Very Very Nice information, Because one of our employee is left job before completion of Five years of service but he has completed his service of 4 years and 245 days, Thanks
From India, Mumbai
From India, Mumbai
Dear All,
The following link will take yoy to the precise complete information regarding gratuity calculation and meaning.
Calculate Gratuity
Thanks & Regards,
Vineet Saini
From India, Chandigarh
The following link will take yoy to the precise complete information regarding gratuity calculation and meaning.
Calculate Gratuity
Thanks & Regards,
Vineet Saini
From India, Chandigarh
thanx all for giving the info on gratuity but will anybody tell me whether their is some benefit of gratuity in income tax
From India, Mumbai
From India, Mumbai
Hi Amith, I tried to calculate my gratuity, but there is some problem with the formula for total duration of service? can u help with that also? regards simmi
From India, Delhi
From India, Delhi
Dear Amit can u plz clarify to me that a person should work for 240 days in all the 5 years or any of the year in the 5 years??? Regards, Shree
From India, Bangalore
From India, Bangalore
Hello
Please help me!!!
My company has been showing the gratuity in my CTC. It is been shown in the CTC in the employers part. Is the co. eligible to show the gratuity even if i have completed only 3 years with the co. Is the CTC structure legal as per the co. act as they are showing many things like bonus and also loyalty bonus in the CTC.
From India, Pune
Please help me!!!
My company has been showing the gratuity in my CTC. It is been shown in the CTC in the employers part. Is the co. eligible to show the gratuity even if i have completed only 3 years with the co. Is the CTC structure legal as per the co. act as they are showing many things like bonus and also loyalty bonus in the CTC.
From India, Pune
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FORM-F-NOMINATI ON OF GRATUITY.pdf
Gratuity Form I.doc