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Gratuity & Leave Encashment Trust Fund
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I am an MNC company employee retiring in July 31,2010 after 39years and 7 months of service. As per wage agreement with Union and Management, I am covered under the Payment of Gratuity Act 1972. As per Gratuity Act, section 10(10) employees are divided in to 3 categories.

1. Central/state and local authorities employees.
2. Employees covered under the payment of Gratuity Act 1972
3. Other employees not covered under gratuity act.

Kindly enlighten me in which category myself is covered and how to calculate my Gratuity. My Basic + DA will be around Rs.43,700.00. As per information,our company management calculate gratuity on the following formula i.e.
10 months average salary immediately preceding the month in which the person retires divided by 30 x 15 x no.of years.In my case is this calculation correct ? Also please let me know, whether I am eligible to get gratuity as per the new amendment and whether I have to pay any income tax for my gratuity amount.

Kind regards

P.S. Sivan Pillai.

so far not received any reply. request to look into the matter and help me in getting the required information.
Dear Sir What is the nature of work done by you and what is your designation in the organisation.
I have prepared a Gratuity Calculation for the Employees who is under the Gratuity Act 1972.You may seen this Attachment

Attached Files
File Type: xls GRATUITY Calculator for Central Govt & Private Concern only.xls (48.0 KB, 3973 views)

Dear Sirs,
My colleague had joined our company (Pvt. Ltd.) on 11 march 2012 & last date of working was 29 Dec 2016.
will he be eligible to earn gratuity under the Clause (2) & continuous service clause in the act?
Also, for 5 days working organisation, 190 days are required in the year preceding to such date... But in our organisation, we have alternate saturday off. So how many days required?
Please help

Get End to End Support Services for Formation of Gratuity Trust
We offer end to end online/offline paid support services for the formation of gratuity trust. Our Services includes:-
1. Specialized Support Services for preparation of Inputs for Actuarial Certificate for Value of Obligation under the Gratuity Plan to be taken from an Actuary. This Certificate forms the basis for Initial contribution to be made by the organization into the Gratuity Fund.
2. Support Services in preparation of a board resolution to be passed by the Management of the company for formation of Gratuity Trust.
3. Analytic Support for Management of the Company to take the decision about Investment of the Self Managed Gratuity Trust Investment to be Self Managed by the Trustees or It will be any Investment Service Provider.
4. Advisory Services for Investment of Gratuity Fund into Group Gratuity Schemes.
5. Legal Support Services for Drafting Trust Deed and Trust Rules as per Income Tax Rules 1962.
6. Support Services for filing an application in IT Department for Approval for the purpose of tax exemptions upon the funding as well as the interest portion.
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