However, it would be great and also complete, if you could help calculate the tax payable on the gratuity.
The gratuity law very clearly states that the min period of eligibility is 5yrs and also more than 6months of service is treated as full year.
E.g if an employee completes, 8yrs8months, he is eligible for gratuity of 9yrs.
However, when the tax payable on this gratuity is calcuated, the employers still consider 8yrs and number of completed years and thus the employee ends up paying more tax. I think even for computing tax, 9yrs must be considered.
Why Vote? User validation is extremely important for good content to prosper.