Suppose i spent 5 years in a company. and i had the last basic salary of 26530. What would be my gratuity? Would it calculated upon the basic of every year or the latest basic salary? Please confirm.
From India, Chandigarh
From India, Chandigarh
As per the payment of gratuity act 1972, 15 days pay (Last drawn basic+DA} is to be paid for every completed year subject to max ceiling of Rs. 10 lacks. The gratuity payment is subject to continuous service of 5 years in an organisation.
KC JHA
From India, Mumbai
KC JHA
From India, Mumbai
My dad has worked for 50 years in a coffee plantation so will he be eligible for the latest gratuity act which has been implemented where the ceiling has been raised from 3.5 lakhs to 10 lakhs or is there any conditions
From India, Madras
From India, Madras
Yes, your gratuity will be calculated on your last basic salary. also note down the formula for gratuity calculation : BASIC X 15 X YEARS DEVIDED BY 26
From India, Delhi
2From India, Delhi
Under the provisions of Payment of Gratuity Act, 1972, the employees are required to submit their nomination forms in “Form F”
Gratuity shall be payable to an employee only at the time of separation from the company and on the completion of continuous service of five years. However, completion of five years is not necessary in case of death or disablement.
Disablement is a state which incapacitates an employee for the work which he/she was capable of performing before the accident or disease resulting in such disablement.
The services rendered by an employee in all group companies will be taken into account while employee tenure is calculated for Gratuity purpose.
Gratuity is calculated on the last basic pay drawn by the employee at the time of separation. The formula to calculate Gratuity is given below
Basic Pay X No of years in service X (15/26)
From India, Mumbai
Gratuity shall be payable to an employee only at the time of separation from the company and on the completion of continuous service of five years. However, completion of five years is not necessary in case of death or disablement.
Disablement is a state which incapacitates an employee for the work which he/she was capable of performing before the accident or disease resulting in such disablement.
The services rendered by an employee in all group companies will be taken into account while employee tenure is calculated for Gratuity purpose.
Gratuity is calculated on the last basic pay drawn by the employee at the time of separation. The formula to calculate Gratuity is given below
Basic Pay X No of years in service X (15/26)
From India, Mumbai
Last basic will be considred for computation of gratuity
Basic=26530 * Gratuity entitlement = 5 years * 15 / 26
Minimum service reuired: 5 yrs (4 yrs & 8 Months as per dicision given by Madras high courtl).
Regards,
Anurag
94870155
From India, New Delhi
Basic=26530 * Gratuity entitlement = 5 years * 15 / 26
Minimum service reuired: 5 yrs (4 yrs & 8 Months as per dicision given by Madras high courtl).
Regards,
Anurag
94870155
From India, New Delhi
Hi,
Gratuity will calculate on Last basic salary and this is calculated on 5 years of service in an organisation and a employee works fpr 5 years 7 months it wil calculate on 6 years but here u mentioned only 5 years base on ur question.
Last basic salary * 15/26 *no of years
26530 * 15/26*5 = 76529
Regards,
Sudhir Kumar
9885847996
From India, Visakhapatnam
Gratuity will calculate on Last basic salary and this is calculated on 5 years of service in an organisation and a employee works fpr 5 years 7 months it wil calculate on 6 years but here u mentioned only 5 years base on ur question.
Last basic salary * 15/26 *no of years
26530 * 15/26*5 = 76529
Regards,
Sudhir Kumar
9885847996
From India, Visakhapatnam
Hi,
Gratuity wil calculate on Last basic salary and employee should work min 240 days in a year and they wil calculate for 5 years service .
last basic salary * 15/26 * no.of years
26530*15/26*5 years
Total amount = 76529
Regards,
Sudhir Kumar
Asst.Manager HR
mail I.D =
09885847996
From India, Visakhapatnam
Gratuity wil calculate on Last basic salary and employee should work min 240 days in a year and they wil calculate for 5 years service .
last basic salary * 15/26 * no.of years
26530*15/26*5 years
Total amount = 76529
Regards,
Sudhir Kumar
Asst.Manager HR
mail I.D =
09885847996
From India, Visakhapatnam
My Uncle took voluntarily retirement from railway service from 01.03.2011 after completing 26 years of qualifying service. During his retirement, his basic pay was Rs. 25800. What should be his amount of DCRG?
From India, Calcutta
From India, Calcutta
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Madras HC judg regarding gratuity is applicable if workmen is working 4 years 240 days..pdf