Sir,
My question for payment of Gratuity. Pls confirm and reply to me
Gratuity = last Drawn wages* No of Years of service *15/26 as per Gratuity Act
DOJ is 01.12.1990
DOL is 31.03.2009
Total Service : 18 Year
Basic at the time of Leaving Rs.54000/-
Gratuity = 54000* 18 years *15/26
Gratuity = 560769.23
Gratuity = 560769.00 ( Rounded Off Figure )
What amount paid Rs.3,50,000/- or as per actual calculated amount
Anoop Shrotriya
From India, Pune
My question for payment of Gratuity. Pls confirm and reply to me
Gratuity = last Drawn wages* No of Years of service *15/26 as per Gratuity Act
DOJ is 01.12.1990
DOL is 31.03.2009
Total Service : 18 Year
Basic at the time of Leaving Rs.54000/-
Gratuity = 54000* 18 years *15/26
Gratuity = 560769.23
Gratuity = 560769.00 ( Rounded Off Figure )
What amount paid Rs.3,50,000/- or as per actual calculated amount
Anoop Shrotriya
From India, Pune
Dear Anop,
According to section 4(3) of P G Act, 1972 the amount of gratuity payable to an employee shall not exceed three lakhs & fifty thousand rupees. Therefore,the gratuity amount is required to be paid at a sum of Rs.3.5 lakhs.
With Regards,
R.N.Khola
From India, Delhi
363According to section 4(3) of P G Act, 1972 the amount of gratuity payable to an employee shall not exceed three lakhs & fifty thousand rupees. Therefore,the gratuity amount is required to be paid at a sum of Rs.3.5 lakhs.
With Regards,
R.N.Khola
From India, Delhi
Dear Mr.Murthy, Please find attached for your information. If you need more information Thks & Regds, Mohana.S
From India, Coimbatore
From India, Coimbatore
Dear Mr. RN Khola, The govt has enhanced the limit of 3.5 lakhs to 10 lakhs for govt employees. Has there been any corresponding change in the gratuity act for employees. Regards Sajan
From India, Hyderabad
From India, Hyderabad
Dear Sajan,
So far Govt. have not issued the amendment notification under the P G Act, 1972. Till then we are to take into account the maximum gratuity amount as Rs. 3.5 lakhs.
With Regards,
R.N.Khola
QUOTE=sajanssa;1056219]Dear Mr. RN Khola,
The govt has enhanced the limit of 3.5 lakhs to 10 lakhs for govt employees. Has there been any corresponding change in the gratuity act for employees.
Regards
Sajan[/QUOTE]
From India, Delhi
So far Govt. have not issued the amendment notification under the P G Act, 1972. Till then we are to take into account the maximum gratuity amount as Rs. 3.5 lakhs.
With Regards,
R.N.Khola
QUOTE=sajanssa;1056219]Dear Mr. RN Khola,
The govt has enhanced the limit of 3.5 lakhs to 10 lakhs for govt employees. Has there been any corresponding change in the gratuity act for employees.
Regards
Sajan[/QUOTE]
From India, Delhi
Dear
According to section 4 of the P G Act, 1972 an employee need to render five years continuous service as per section 2A of this Act.
With Regards,
R.N.Khola
From India, Delhi
According to section 4 of the P G Act, 1972 an employee need to render five years continuous service as per section 2A of this Act.
With Regards,
R.N.Khola
From India, Delhi
For calculation of gratuity only basic + DA(ie salary) to be considered.
Basic + DA/26 *15
Or you may just take 4.8 percent of basic+DA for gratuity provision and naturally to apply the Act for making payment after 5 years of continuous service.
From India, Kochi
Basic + DA/26 *15
Or you may just take 4.8 percent of basic+DA for gratuity provision and naturally to apply the Act for making payment after 5 years of continuous service.
From India, Kochi
u need to submit to ACL central- if u r in hyd u need to send them to vidya nagar ATI campus controlling authority is labour dept central
From India, Hyderabad
From India, Hyderabad
Mr. KHOLA/anoop,
As per gratuity act...an employer has to pay gratuity if an employee has 5 years of continous service with same org.
the maximum amount to be paid is 3.5 lac but if there is an agreement between employer & employee for paying more than 3.5 lac the act will not restrict the same.
it depends on organisation to give or not to give more that 3.5 lac
regards,
Sankar Alla
From India, Hyderabad
As per gratuity act...an employer has to pay gratuity if an employee has 5 years of continous service with same org.
the maximum amount to be paid is 3.5 lac but if there is an agreement between employer & employee for paying more than 3.5 lac the act will not restrict the same.
it depends on organisation to give or not to give more that 3.5 lac
regards,
Sankar Alla
From India, Hyderabad
Mr.Srinivas,
In a case MADRAS HIGH COURT HAS SANCTIONED GRATUITY TO AN EMPLYEE WHO IS HAVING 4 YEARS AND 6 MONTHS OF SERVICE BUT THE OTHER states NEED NOT TO FOlLOW THIS JUDGEMENT.
i am not sure but there was an judgement on this in SC. it said we need not to pay gratuity unless employee serve 5 years
fyi pl.
Sankar Alla
From India, Hyderabad
In a case MADRAS HIGH COURT HAS SANCTIONED GRATUITY TO AN EMPLYEE WHO IS HAVING 4 YEARS AND 6 MONTHS OF SERVICE BUT THE OTHER states NEED NOT TO FOlLOW THIS JUDGEMENT.
i am not sure but there was an judgement on this in SC. it said we need not to pay gratuity unless employee serve 5 years
fyi pl.
Sankar Alla
From India, Hyderabad
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Payment of Gratuity Act, 1972 & The Rules.ppt
THE PAYMENT OF GRATUITY ACT 1972.doc