Gratuity payment is calculated as 15/28 of monthly basic pay for every year of completed service, which is paid out when an employee retires or leaves the organisation.
28th June 2011 From India, Pune
Noted. Also, a querry is there, if possible, a company changes their name after regular interval in a span of 5-6 years 3-4 times but employees are intact with them for same duration.
Is employees are eligible for Gratuity.
4th July 2011 From India, Mumbai
First of all i didnt understand the reason behind company changing its name 3-4 times in a span of 5-6 years. This action must be to manipulate the acts and rules. Very unfortunate.
As far as gratuity applicability is concerned if employer-employee relationship had continued and the relationship was not snapped, employees are eligible for gratuity.
5th July 2011 From India, Pune