Could we take Gratuity as a part of CTC ? Very urgent awaiting for your valuable views. Thanks & Regards Bharat Mudgal mudgal.bharat87@gmail.com
From India, Delhi
From India, Delhi
Hi Bharat,
An employee should complete 5years of sevice to be eligible for Gratuity. mentioning Gratuity in your CTC before the 5 year period of service is not a right thing. How ever some employers are considering it as a part of CTC which is not a fair practice.
In the fifth year you could include the component using the following calculation so as to cover the Cost to the company
Gratuity = Current basic X 15 X 5 / 26
wherein 5 is the number of years worked
Thanks & Regards,
Srilakshmi Korukonda
From India, Hyderabad
28An employee should complete 5years of sevice to be eligible for Gratuity. mentioning Gratuity in your CTC before the 5 year period of service is not a right thing. How ever some employers are considering it as a part of CTC which is not a fair practice.
In the fifth year you could include the component using the following calculation so as to cover the Cost to the company
Gratuity = Current basic X 15 X 5 / 26
wherein 5 is the number of years worked
Thanks & Regards,
Srilakshmi Korukonda
From India, Hyderabad
Dear Bharat,
Kindly refer the links below. This might solve your problem.
https://www.citehr.com/439970-gratuity-payment.html
https://www.citehr.com/435363-payment-gratuity.html
From India, Ahmedabad
Kindly refer the links below. This might solve your problem.
https://www.citehr.com/439970-gratuity-payment.html
https://www.citehr.com/435363-payment-gratuity.html
From India, Ahmedabad
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FORM-F-NOMINATI ON OF GRATUITY.pdf
Gratuity Form I.doc