dear i think gratuity is calculation is based on basis*15*26*no of years of service.. is it right Rgds rajesh
From India, Kakinada
69From India, Kakinada
Dear all,
As per the request, please find the below points as per the Gratuity act 1972, for your ready reference.
Gratuity Formula Basic+ Da it means you need to mention only current month Basic + DA, * 15* Number of worked years/26,
The eligibility of Gratuity, 5 yrs continues service , in case of death we need to consider only actual worked yrs,
while any employee worked more than five yrs, then you have to calculate his total working days, in case of Employee worked less than 240, days of the current financial year, you need to adjust his leave etc, nor, as per the act considering. 5 yrs, + if has worked more than six month of current Yrs, you shall consider his total eligible yrs, would be 6 yrs,
The Maximum payable Gratuity would be Rs, 1000000(Ten Lakh )
I hope this will Clear your doubts.
Thanking You
Yogeesh
From India, Bangalore
As per the request, please find the below points as per the Gratuity act 1972, for your ready reference.
Gratuity Formula Basic+ Da it means you need to mention only current month Basic + DA, * 15* Number of worked years/26,
The eligibility of Gratuity, 5 yrs continues service , in case of death we need to consider only actual worked yrs,
while any employee worked more than five yrs, then you have to calculate his total working days, in case of Employee worked less than 240, days of the current financial year, you need to adjust his leave etc, nor, as per the act considering. 5 yrs, + if has worked more than six month of current Yrs, you shall consider his total eligible yrs, would be 6 yrs,
The Maximum payable Gratuity would be Rs, 1000000(Ten Lakh )
I hope this will Clear your doubts.
Thanking You
Yogeesh
From India, Bangalore
Salary whatever its may be but the gratuity amount is lesser than are equal .3.60 laksh. Is there any correction inform me............
From India, Madras
From India, Madras
my wife was a teacher in private school, she retired on 1st june 2005. she has not been paid gratuity despite several reminders. we have approached labour commissioner and matter is pending there since one year.is there any highcourt judgement in this regard for the private teachers after amendment of the gratuity act,2009
From India, Valsad
From India, Valsad
but is it necessary that the employment period should be more than 5 years or equal to 5 years, if employee leaving the job before years, then will he be eligible to get the gratuity
From India
From India
Current salary divided by 26 then multiply by 15 then again multiply by number of years worked.
Current Salary / 26 * 15 * No. of Years Worked.
Current Salary = Basic + DA
26 = Working days in a month except sunday.
15 = Gratuity payable for No. of days in a year.
No. of Years Worked : After working for 4 years, 5th year onward if worked for more than six month then you are eligible for full year
From India, Bangalore
Current Salary / 26 * 15 * No. of Years Worked.
Current Salary = Basic + DA
26 = Working days in a month except sunday.
15 = Gratuity payable for No. of days in a year.
No. of Years Worked : After working for 4 years, 5th year onward if worked for more than six month then you are eligible for full year
From India, Bangalore
The Formula is Last salary drawn(Basic + DA+IR(Interim relief if any)X15X no. of yrs of service/ 26. yrs calculation shall be on the months served as plus six will be considered as one year.
From India, Patna
From India, Patna
Maximum ceiling of payment of gratuity is Rs. 10 Lacs. — -LOKANADHA BABU NARRA MANAGER H.R.
From India, Guntur
From India, Guntur
Gratuity is paid after completion of 5 years of continuous service. It is calculated on the basic of
Last Drawn salary (Basic+DA)/26*15*No of years. If No of months is in fraction above six months round off to next month ie- (6 years 6 months and 3 months or 2 months, then round off to 7 months.
Maximum Gratuity allowed under Income Tax Exemption is 10 Lakhs in entire service period.
If your company is not registered under gratuity act then round off is not required. You can pay 6.6 years.
From India, Bangalore
Last Drawn salary (Basic+DA)/26*15*No of years. If No of months is in fraction above six months round off to next month ie- (6 years 6 months and 3 months or 2 months, then round off to 7 months.
Maximum Gratuity allowed under Income Tax Exemption is 10 Lakhs in entire service period.
If your company is not registered under gratuity act then round off is not required. You can pay 6.6 years.
From India, Bangalore
Community Support and Knowledge-base on business, career and organisational prospects and issues - Register and Log In to CiteHR and post your query, download formats and be part of a fostered community of professionals.
FORM-F-NOMINATI ON OF GRATUITY.pdf
Gratuity Form I.doc