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harisesh
Hai friends,
I am working in a limited co. as Asst.Manager Accounts & Admn, kindly help in following query,
If the persons retires in the middle of the month, DA is variable, Grautity to be calculated on Basic + Previous month DA or basic+current DA? Please help me out in this regard?

From India, Thana
Sharmila Das
990

Dear Mr. Harisesh,
It would be calculated as per previous month Basic + D.A x15/ 26 x Np. of years of service (minimum qulifying service put up is 5 years must)
The maximum amount payable is 3.50 Lakhs.
Hope this clarifies your query...

From India, Visakhapatnam
Madhu.T.K
4193

Gratuity is to be calculated on the last drawn salary (Basic + DA) and the maximum amount of gratuity as per Payment of Gratuity Act is Rs 10 lakhs. At the same time any higher amount can be paid if the employer is willing to pay. The additional amount over and above what is stated above will be taxable in the hands of employee and employer.
Regards,
Madhu.T.K

From India, Kannur
Mehrunisa Basima
66

Dear Hari, Gratuity = Last monthly Wages x 15 x years of completed service Note:- (i) Wages = Basic Wages + current DA (ii) Maximum gratuity payable = 10, 00,000/-
From India, Kochi
soumik1570
112

Max. amount Its 10lks for central government and 5 lakhs for state Govt. More than 10lkhs also permissible, provided that amount will be taxed by the IT department.
From India, Calcutta
Madhu.T.K
4193

Soumiks's interpretation of maximum amount of gratuity seems to be wrong since the Payment of Gratuity Act is not meant for government employees . It is 10 lakhs for all employees who are covered by the said Act.
Madhu.T.K

From India, Kannur
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