Hi, I have a few queries regarding gratuity entitlement for a Private non-listed MNC in India. Request your help on the same:
1) Am I eligible to get gratuity if I have completed 4 years and 11 months in service? What is the minimum service requirement to be eligible to get gratuity?
2) Is gratuity taxable?
3) Is the recent Basic salary + DA considered for gratuity calculation? Or is it calculated based on each year's basic pay + DA?
4) If I have completed 4 years and 7 months at the time of resigning from my current job and my notice period is 60 days, will I be eligible to get gratuity on my last working day with the organization?
From India, Ahmedabad
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1) Am I eligible to get gratuity if I have completed 4 years and 11 months in service? What is the minimum service requirement to be eligible to get gratuity?
2) Is gratuity taxable?
3) Is the recent Basic salary + DA considered for gratuity calculation? Or is it calculated based on each year's basic pay + DA?
4) If I have completed 4 years and 7 months at the time of resigning from my current job and my notice period is 60 days, will I be eligible to get gratuity on my last working day with the organization?
From India, Ahmedabad
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1) Am I eligible to get gratuity if I have completed 4 years and 11 months in service? What is the minimum service requirement to be eligible to get gratuity? - Yes, if you have worked for more than 4 years and 240 days in the same organization, then you are entitled to the gratuity claim.
2) Is gratuity taxable? - Yes, it is exempted from tax for the gratuity amount below Rs. 20 Lacs.
3) Is the recent Basic salary + DA considered for gratuity calculation? Or is it calculated based on each year's basic pay + DA? - It will be the recent Basic + DA.
4) If I have completed 4 years 7 months at the time of resigning from my current job and my notice period is 60 days, will I be eligible to get gratuity on my last working day with the organization? - Yes, your gratuity will be calculated considering the last working day in the company. The formula for calculating gratuity is Basic + DA / 26 * 15 * Number of Years in the organization.
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3952) Is gratuity taxable? - Yes, it is exempted from tax for the gratuity amount below Rs. 20 Lacs.
3) Is the recent Basic salary + DA considered for gratuity calculation? Or is it calculated based on each year's basic pay + DA? - It will be the recent Basic + DA.
4) If I have completed 4 years 7 months at the time of resigning from my current job and my notice period is 60 days, will I be eligible to get gratuity on my last working day with the organization? - Yes, your gratuity will be calculated considering the last working day in the company. The formula for calculating gratuity is Basic + DA / 26 * 15 * Number of Years in the organization.
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Gratuity Eligibility.pdf
Gratuity eligibility for less than 5 yrs. (4yrs.240days). docx