Dear Sir/Madam,
Suppose a person retired from his job at the age of 63 years instead of 58 years. In such a condition, the employer is liable to pay gratuity to the employee, based on his/her last salary drawn at the age of 63 years or 58 years. The number of years of service should be considered according to the age of 63 years or 58 years.
For example, if at the age of 58 years, the last salary drawn was Rs. 5800 with 12 years of service, and at the age of 63 years, the last salary drawn was Rs. 7375 with 17 years of service.
Please advise me on this matter.
Regards,
Mukesh Goyal
9158009792
From India, Shahada
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Suppose a person retired from his job at the age of 63 years instead of 58 years. In such a condition, the employer is liable to pay gratuity to the employee, based on his/her last salary drawn at the age of 63 years or 58 years. The number of years of service should be considered according to the age of 63 years or 58 years.
For example, if at the age of 58 years, the last salary drawn was Rs. 5800 with 12 years of service, and at the age of 63 years, the last salary drawn was Rs. 7375 with 17 years of service.
Please advise me on this matter.
Regards,
Mukesh Goyal
9158009792
From India, Shahada
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Hi Mukesh,
Gratuity calculation remains the same whether at 58 years or 63 years. For 12 years, the gratuity amount is Rs. 40,154 at a basic rate of Rs. 5800. Similarly, for 17 years, the gratuity amount is Rs. 72,332 at a basic rate of Rs. 7375. The longer the service period, the higher the gratuity amount. Furthermore, for the purpose of gratuity calculation, Basic + DA should be considered.
From India, Madras
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1015Gratuity calculation remains the same whether at 58 years or 63 years. For 12 years, the gratuity amount is Rs. 40,154 at a basic rate of Rs. 5800. Similarly, for 17 years, the gratuity amount is Rs. 72,332 at a basic rate of Rs. 7375. The longer the service period, the higher the gratuity amount. Furthermore, for the purpose of gratuity calculation, Basic + DA should be considered.
From India, Madras
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