Re: LTA & Ex-Gratia Payment Hi Sweetu,
About Gratuity, as per my knowledge, legally, all the employees (for organizations which have more than 10 employees) who have fulfilled thier 5 years service period with the company are entitled to get their gratuity and this amount is calculated by a formula
Gratuity = 15/26 X No of years of service X Basic wage at the time of departture.
LTA, as it is a part of CTC, it has to be paid to the employees.
Regards
Sirisha Reddy |