Hi All I wanted to know how to calculate the Gratuity for those who have stayed more than 4+ Years in the same organization.... How to calculate the DA...in that process. Thanks Nag
From India, Bangalore
1From India, Bangalore
Dear Nagarjuna, Employees are eligible only once they complete 5 years in the org... Regards, Sonali
From India, Pune
From India, Pune
Hi Nag,
Gratuity is calculated as below :
(Last Drawn Wages/26*15)*No of years of service
The employee is eligible if he/She is rendering continous service of 240 days for 5 years.
Regards,
Satpreet Kaur
From India
Gratuity is calculated as below :
(Last Drawn Wages/26*15)*No of years of service
The employee is eligible if he/She is rendering continous service of 240 days for 5 years.
Regards,
Satpreet Kaur
From India
Suppose his salary is 50KPM..... =(50000/26*15)*5 = 48076.92308
Is this correct....or what is the correction....
I heard that the formula is different ...... what is DA(DearNess allowance)...I want to know how it is calculated ....in Salary slips also it is not there.
Thanks
Nag
From India, Bangalore
Is this correct....or what is the correction....
I heard that the formula is different ...... what is DA(DearNess allowance)...I want to know how it is calculated ....in Salary slips also it is not there.
Thanks
Nag
From India, Bangalore
Hi Last Basic + DA ______________ X 15 X No. of Year Service 26 Employee is eligible for gratuity if he has continues service 4 year and 8 Months (240 Days) Regards Zafar
From India, Delhi
From India, Delhi
(50000/26*15)*5 = 48076.92308 is wrong..!
"Operator precedence... Left to right and brackets has highest precedence"
50000/26 = 1923.076
(50000/26) * 15 = (1923.076) * 15 = 28846
((50000/26) * 15) *5 = 28846 * 5 = 144230/-
Any way you calculate you get the above amount...
50,000 * 15 * 5 ----> 3,750000
---------------- = --------- = 144230/-
26 ----------- ----> 26
From India, New Delhi
"Operator precedence... Left to right and brackets has highest precedence"
50000/26 = 1923.076
(50000/26) * 15 = (1923.076) * 15 = 28846
((50000/26) * 15) *5 = 28846 * 5 = 144230/-
Any way you calculate you get the above amount...
50,000 * 15 * 5 ----> 3,750000
---------------- = --------- = 144230/-
26 ----------- ----> 26
From India, New Delhi
Hello,
sorry for interrupting, but would like to know that if a person has completed 4 yrs. & 5 months & if he/she gives resignation, & according to policy he have serve three month notice so total it became 4 yrs & 8 months... now the person is still eligible for Gratuity??
I mean he has completed 4yrs. + 240 days..but including his notice period (3months)..
and if yes then on basis of which section under gratuity Act 1972??
Kindly guide on the same..
Regs,
sangani...
From India, Mumbai
sorry for interrupting, but would like to know that if a person has completed 4 yrs. & 5 months & if he/she gives resignation, & according to policy he have serve three month notice so total it became 4 yrs & 8 months... now the person is still eligible for Gratuity??
I mean he has completed 4yrs. + 240 days..but including his notice period (3months)..
and if yes then on basis of which section under gratuity Act 1972??
Kindly guide on the same..
Regs,
sangani...
From India, Mumbai
Dear Sangni
Please note the following:-
Gratuity shall be payable to an employee on the termination of his employment after he has rendered continuous service for not less than five years –
(a) on his superannuation, or
(b) on his retirement or resignation, or
(c) on his death or disablement due to accident or disease:
Provided that the completion of continuous service of five years shall not be necessary where the termination of the employment of any employee is due to death or disablement
regards
Abubakkar
From India, Madras
Please note the following:-
Gratuity shall be payable to an employee on the termination of his employment after he has rendered continuous service for not less than five years –
(a) on his superannuation, or
(b) on his retirement or resignation, or
(c) on his death or disablement due to accident or disease:
Provided that the completion of continuous service of five years shall not be necessary where the termination of the employment of any employee is due to death or disablement
regards
Abubakkar
From India, Madras
Dear Sangani
Please note the following:-
Gratuity shall be payable to an employee on the termination of his employment after he has rendered continuous service for not less than five years –
(a) on his superannuation, or
(b) on his retirement or resignation, or
(c) on his death or disablement due to accident or disease:
Provided that the completion of continuous service of five years shall not be necessary where the termination of the employment of any employee is due to death or disablement
regards
Abubakkar
From India, Madras
Please note the following:-
Gratuity shall be payable to an employee on the termination of his employment after he has rendered continuous service for not less than five years –
(a) on his superannuation, or
(b) on his retirement or resignation, or
(c) on his death or disablement due to accident or disease:
Provided that the completion of continuous service of five years shall not be necessary where the termination of the employment of any employee is due to death or disablement
regards
Abubakkar
From India, Madras
Dear sir,
Gratuity shall be payable to an employee on the termination of his employment after he has rendered continuous service for not less than five years –
(a) on his superannuation, or
(b) on his retirement or resignation, or
(c) on his death or disablement due to accident or disease:
Provided that the completion of continuous service of five years shall not be necessary where the termination of the employment of any employee is due to death or disablement
regards
Abubakkar
From India, Madras
Gratuity shall be payable to an employee on the termination of his employment after he has rendered continuous service for not less than five years –
(a) on his superannuation, or
(b) on his retirement or resignation, or
(c) on his death or disablement due to accident or disease:
Provided that the completion of continuous service of five years shall not be necessary where the termination of the employment of any employee is due to death or disablement
regards
Abubakkar
From India, Madras
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