One of our employees has passed away due to a road accident. In this situation, I would like to know the calculation of gratuity payment. Kindly guide me.
I am furnishing the details for reference:
Date of Birth - 21/08/1971
Joining date - 09/12/2002
Retirement date - 31/08/2029
Service period as of the date - 19 years 4 months
Last basic drawn - Rs. 14910/-
Regards,
Tarak Shaw
From India, Kolkata
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7I am furnishing the details for reference:
Date of Birth - 21/08/1971
Joining date - 09/12/2002
Retirement date - 31/08/2029
Service period as of the date - 19 years 4 months
Last basic drawn - Rs. 14910/-
Regards,
Tarak Shaw
From India, Kolkata
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Dear Tarak Shaw,
In the event of an employee's death while in service, only a minimum qualifying service of five years is not necessary.
In the case mentioned, the gratuity for the entire service rendered up to the date of the employee's death shall be calculated and paid to the nominee. In the absence of a nomination, the amount calculated will be deposited with the Controlling Authority under the Payment of Gratuity Act, 1972 for the area, for disbursement after an inquiry.
From India, Salem
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In the event of an employee's death while in service, only a minimum qualifying service of five years is not necessary.
In the case mentioned, the gratuity for the entire service rendered up to the date of the employee's death shall be calculated and paid to the nominee. In the absence of a nomination, the amount calculated will be deposited with the Controlling Authority under the Payment of Gratuity Act, 1972 for the area, for disbursement after an inquiry.
From India, Salem
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Gratuity is to be paid based on the formula given below:
{(Basic Pay + DA) x 15/26} x No. of completed years of service. (Six months or more would be calculated as one year, and less than six months to be ignored). This calculation is as per the Payment of Gratuity Act 1972.
From India, Mumbai
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{(Basic Pay + DA) x 15/26} x No. of completed years of service. (Six months or more would be calculated as one year, and less than six months to be ignored). This calculation is as per the Payment of Gratuity Act 1972.
From India, Mumbai
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