Dear All,
I have the following query/confusion regarding provisions/practices under "The Payment of Gratuity Act, 1972". Is the ceiling of Rs. 3.50 lakhs towards the maximum gratuity payable under the Payment of Gratuity Act or the maximum amount exempted under the Income Tax Act?
Regards,
Gaurang Sheth
From India, Pune
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1I have the following query/confusion regarding provisions/practices under "The Payment of Gratuity Act, 1972". Is the ceiling of Rs. 3.50 lakhs towards the maximum gratuity payable under the Payment of Gratuity Act or the maximum amount exempted under the Income Tax Act?
Regards,
Gaurang Sheth
From India, Pune
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Dear Mr. Gaurang, The amount of Rs. 3.50 lacs is the Max. eligibility for Gratuity as per Gratuity act. Regards, Santosh Iyer
From India, Pune
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From India, Pune
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Hello, Mr. Iyer,
Thank you for your reply to my query. Does this mean that if at the time of resigning or retiring, 15 days of salary multiplied by the number of years of service is more than 3.50 lakhs, legally, the employee cannot claim gratuity above 3.50 lakhs?
Regards,
Gaurang Sheth
From India, Pune
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Thank you for your reply to my query. Does this mean that if at the time of resigning or retiring, 15 days of salary multiplied by the number of years of service is more than 3.50 lakhs, legally, the employee cannot claim gratuity above 3.50 lakhs?
Regards,
Gaurang Sheth
From India, Pune
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sir, Please give me revised notification for increase in payment of Gratuity from 3.5 to 10.00lac if any.
From India, Delhi
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From India, Delhi
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Dear,
The maximum gratuity limit is still Rs. 3.5 lacs. The matter is under process.
With Regards,
R.N.Khola
From India, Delhi
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The maximum gratuity limit is still Rs. 3.5 lacs. The matter is under process.
With Regards,
R.N.Khola
From India, Delhi
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Basic Information Required for Gratuity Settlement
1. What is the basic information required for the settlement of gratuity under the Payment of Gratuity Act, 1972?
Increment Details for Long-term Employees
2. For an employee who has worked in any organization for 20 years or more, is it compulsory to check all increment details, i.e., annual increment/salary fixation, which are recorded in the service book at the time of payment of gratuity due to retirement/resignation/death?
Recovery of Excess Employer Contribution
3. If any amount has been contributed in excess towards the employer's share in the PF account due to wrong salary fixation/increment or any other reason, can this employer contribution amount be recoverable from the payable gratuity to the employee due to retirement/resignation/death?
Regards,
Arun Saxena, M/s Nav Bharat, Delhi, [Phone Number Removed For Privacy Reasons]
From India, Lucknow
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1. What is the basic information required for the settlement of gratuity under the Payment of Gratuity Act, 1972?
Increment Details for Long-term Employees
2. For an employee who has worked in any organization for 20 years or more, is it compulsory to check all increment details, i.e., annual increment/salary fixation, which are recorded in the service book at the time of payment of gratuity due to retirement/resignation/death?
Recovery of Excess Employer Contribution
3. If any amount has been contributed in excess towards the employer's share in the PF account due to wrong salary fixation/increment or any other reason, can this employer contribution amount be recoverable from the payable gratuity to the employee due to retirement/resignation/death?
Regards,
Arun Saxena, M/s Nav Bharat, Delhi, [Phone Number Removed For Privacy Reasons]
From India, Lucknow
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Gratuity is payable if an employee has completed continuous service of 5 years as per Section 2A of the Gratuity Act 1972.
Gratuity Calculation
For the calculation of gratuity, the present salary is taken into consideration using the following formula:
Monthly salary * 15 * Number of years of continuous service / 26
Thank you.
From India, Mumbai
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Gratuity Calculation
For the calculation of gratuity, the present salary is taken into consideration using the following formula:
Monthly salary * 15 * Number of years of continuous service / 26
Thank you.
From India, Mumbai
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Dear Sir, I have not received an answer to my third question. Kindly review my third question again. My query is as follows:
1. Is any amount that has been contributed in excess towards the employer's share in the PF account, due to wrong salary fixation/increment or any other reason, recoverable from the payable gratuity to the employee upon retirement/resignation/death?
Regards,
Arun Saxena
M/s Nav Bharat
Delhi, [Phone Number Removed For Privacy Reasons]
From India, Lucknow
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1. Is any amount that has been contributed in excess towards the employer's share in the PF account, due to wrong salary fixation/increment or any other reason, recoverable from the payable gratuity to the employee upon retirement/resignation/death?
Regards,
Arun Saxena
M/s Nav Bharat
Delhi, [Phone Number Removed For Privacy Reasons]
From India, Lucknow
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Dear Sir , IF Graduity Limit increased from 3.5 lac to 10 lac, so please share the notifiacation for the same . Regards, Anand
From India, Mumbai
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From India, Mumbai
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Please find attached herewith the required notification.
R.N.KHOLA (LL&IR) Welcome Skylark Associates
From India, Delhi
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R.N.KHOLA (LL&IR) Welcome Skylark Associates
From India, Delhi
Acknowledge(0)Amend(0)CiteHR is an AI-augmented HR knowledge and collaboration platform, enabling HR professionals to solve real-world challenges, validate decisions, and stay ahead through collective intelligence and machine-enhanced guidance. Join Our Platform.
Payment of Gratuity Act, 1972 & The Rules.ppt
THE PAYMENT OF GRATUITY ACT 1972.doc