Calculation of Gratutity

dishabansal10 · #11 (**permalink**) 15-10-2008, 05:35 PM

Hi Parveena,

If you said that Formula for gratuity calculation is as given below then why in the example u have taken no. of years 5 instead of 15?

Basic*15/26* no. of years

e.g. : Basic = Rs. 10,000/-
No. of years = 15 years

Gratuity = 10,000*15/26*5
= Rs. 28,846.15/-

rastogi.pooja · #12 (**permalink**) 15-10-2008, 06:32 PM

Dear All,

Thanks for the clarification, keep posting and share the imp. information.

Regards

Pooja

kevinappu · #13 (**permalink**) 15-10-2008, 06:55 PM

[Pooja,

Employee has to complete 5 yrs of service then only he/she will be eligeble for gratuity... 4yrs 4 month and all is not applicable

omprakashmahata · #14 (**permalink**) 15-10-2008, 07:00 PM

Hiiiiii,

As per the Payment of Gratuity Act, an employee must serve 5 years or more to become eligible for the Gratuity either on resignation or termination.

Regards,

Om Prakash

angad G · #15 (**permalink**) 15-10-2008, 07:16 PM

In gratuity act,is continous service also includes the leave taken by the employee.i mean if an employee complete its 5 yrs bt during this period he take let 40 or 50 leave than he is liable for the gratuity.plz tell if sum1 know this

thakur_rakesh1 · #16 (**permalink**) 15-10-2008, 07:37 PM

hi

thanks

gajrajsingh · #17 (**permalink**) 15-10-2008, 10:27 PM

Quote:

Originally Posted by Amith R Murthy

Dear Friends,

I think Pravinaa is right only thing i wanted to get it clarified is in the fifth year it should be 240days of service should be completed according to me. Friends can anyone of you clarify me on the same.

I have also attached one excel file containing samples of Gratuity calculation, hope it will be of some use for you all.

Thanks & Regards
Amith R.

Dear Amit,

If an individual has put up 240 days service in the 5th year. He is eligible for gratuity.

Gajraj

gajrajsingh · #18 (**permalink**) 15-10-2008, 10:32 PM

Dear Friends,

On the above subject, i have a doubt, if an employee has completed 5 year of service but, for example, in the 2nd year he put up less than 240 days continuous service. Will he get gratuity for 5 year or 4 years.

Clarification please.

Gajraj

penubothu · #19 (**permalink**) 16-10-2008, 08:57 AM

Hi Pooja,

can you clear me about the gratuity is paying from the employer or you have taken the account through the LIC,

if the Employer is paying the Gratuity then as per your said working days and years he/she is not eligible..

but, if the said person amount towards the Gratuity is being deducted from the Employee salary and then sent to LIC, then the concern person is authorized to get the total Gratuity amount which has been depostied in the LIC office.

I hope this clears your doubt

With regards
Satya Penubothu

Amith R Murthy · #20 (**permalink**) 16-10-2008, 12:11 PM

Dear Gajraj,

Thanks for the clarification. According to me he will still get Gratuity for 5 years, friends correct me if i am wrong.

Regards
Amith R.

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