14-10-2008, 04:10 PM
|  | | | Join Date: Aug 2008 Location: rishikesh
Posts: 20
| |  Calculation of Gratutity
Dear All,
As per the Gratuity Act. he is eligible to get the gratuity amount only after the completion of 5yrs of continous service in the organisation, but if the employee completed 4yrs 4 month and 17 Days and he is leaving the company,Is he eligible for gratuity?
How will we calculate the amount?? |
14-10-2008, 06:03 PM
|  | | | Join Date: Apr 2008 Location: Faridabad/Delhi NCR
Posts: 1,603
| |
No, he is not eligible for the Gratuity.
__________________
Everyone thinks of changing the world, but no one thinks of changing himself.....
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14-10-2008, 08:43 PM
| | | | Join Date: Nov 2007 Location: noida
Posts: 400
| |
dear
he is not eligible for gratuity.
tks
j s malik |
15-10-2008, 12:08 AM
| | | | Join Date: Oct 2008 Location: Chennai
Posts: 136
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He is not eligible for gratuity. An employee is eligible for receiving gratuity payment only after he has completed 5 years of continuous service. |
15-10-2008, 12:07 PM
| | | | Join Date: Aug 2008 Location: rishikesh
Posts: 20
| |
Thanks all,
For the clarification,
Regards
Pooja |
15-10-2008, 02:56 PM
| | | | Join Date: Jul 2008
Posts: 22
| |
Hi Pooja,
He is not elgible for gratuity, if the person is working from 4 yrs 11 months 30 days also not elgible, the person has to finish his 5 yrs of service with organisation then he is elgible for gratuity.
with regards,
Ramesh.V |
15-10-2008, 02:57 PM
| | | | Join Date: Jan 2008 Location: Chennai
Posts: 25
| |
Hello Members,
Do all the organisation should amend gratuity compulsorily or it is optional? Kindly clarify.
Sense |
15-10-2008, 03:36 PM
| | | | Join Date: Jan 2008 Location: Kolkata
Posts: 6
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Not Eligible
Rajesh |
15-10-2008, 03:38 PM
|  | | | Join Date: Feb 2008 Location: Mumbai
Posts: 28
| |  Eligibility for Gratuity
Hey Pooja!
Though as per gratuity act, one should complete 5 years of continuous service; if one has completed 4 years & 240 days he/ she is eligible for gratuity.
Formula for gratuity calculation:
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/-
__________________ Thanks & Regards, Pravinaa HR Executive FFCL. |
15-10-2008, 04:39 PM
| | | | Join Date: Sep 2007 Location: Mysore
Posts: 773
| |
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.
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