Gratuity - Final Settlement
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Gratuity - Final Settlement

hekarthik Started The Discussion:

-Please let me Know,
One of employee is working in factory, he has service for 3 Years 4 month, and unfortunately he had accident inside of the factory and finally he have not continuance jobs, due to disablement so we want give final settlement to him
My question is how to calculate the Gratuity He has got Basic Rs 9000 and Rs DA 4000
Whether Gratuity calculate formula or Any Quant am Method ?


Thanks& Regards
Hekarthi

Madhu.T.K - Member Since: Sep 2007
If he has been permanently disabled due to accident he is entitled to get gratuity. If you have linked your gratuity scheme to LIC, then LIC will pay the amount calculated on the basis of retirement age. If not, you have to pay gratuity for three years and the amount comes to Rs 22500 (13000/26X15X3)

Madhu.T.K

hekarthik - Member Since: Nov 2010
Dear madhu Ji Thanks you for your opinion Thank& Regards Hekarthik

hekarthik - Member Since: Nov 2010
Dear Madhu Ji,


Please clarify another one doubt, if one of employee worked 6 years 5 month after resigned , he have piece rate wages than how to calculate the gratuity ?
I have furnished last one year salary for particular employee

2012July 5000
Aug 4430
sep 3000
oct 5000
Nov 2400
Dec 6300
2013Jan 6700
Feb 5050
March2950
April 3750
May 5000
June 4050


Please , give me opinion in this case



Thanks Regards

hekarthik

jkct15 - Member Since: Aug 2007
Hi

i would suggest you to pay the gratuity with respect to your current minimum wages. Figure out the skill level according to the latest gazzette and pay your employee. So that there wont be any problem which would arise out of employment and you will be on a safer end.

Madhu.T.K - Member Since: Sep 2007
For calculation of gratuity the previous years salary is not at all relevant and what is relevant is the last drawn salary. But in respect of piece rated workers, you can take the average wages for the last three months immediately preceding the date of exit is to be taken in to account. In respect of seasonal employees, it will be 7 days wages for each season as against 15 days wages for every completed year of service.

Madhu.T.K

hekarthik - Member Since: Nov 2010
Dear Madhu.T.K Ji Thank for your information Thanks & Regards Hekarthik

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