Manager - Hr & Ir
Hr Executive
Accounts Officer/gpf&pension
+7 Others

Thread Started by #nahushss_1709

Dear Sir / Madam / HR Professionals,
Kindly provide me the latest Gratuity calculation.
One of my colleague have recently resigned & have completed 5 yrs. & 3 mths. in the current organization. Kindly advise if we have to calculate & pay him the Gratuity for 5 yrs. or 6 yrs. I am confused to pay him (for 5 yrs. or 6 yrs.) as he has completed more than 5 yrs. of continuous service.
Thanks & Warm Regards
Vinayak Sonawane
25th July 2012 From India, New Delhi
Dear Vinayak, In this case the Calculation for gratuity would be : Current Basic/26*15*5 There will be no payment for extra 03 months.
25th July 2012 From India, New Delhi
Gratuity = (last drawn Basic+DA)/26 x 15 days x No. of yrs. of service regards bhav narayana asst manager hr
26th July 2012 From Singapore, Singapore
Hi, Post completing 5 years in the organization, every 6 months what an employee complete’s in rounded & considered as 1 year.
26th July 2012 From India, Bangalore
Hi Vinayak ,
You have to consider only for 5 years of service for caluculating graiity .(In case if he had served for more than six months then you can consider as 6 years, but in your case he has served for only 3 months of service after 5 years . so you have to caluculate only for 5 years )
27th July 2012 From India, Bangalore
Hai Vinayak, in these case you consider only 5 years. you can take more then six months at rounded of one year. Suresh
27th July 2012 From India, Madras
Dear Mr.Vinayak,
Refer to your query on the above subject, pl.go through Sec 4 for eligibility criteria for employee to claim gratuity.It means any employee who has rendered/completed 5 years continuous service at the time of resignation or retirement, reaching the age of superannuation etc.,Calculation to be made 0n 15 days wages for every completed year service or part there of in excess of six months.In your case he is eligible for 5 years only.
P.V.Rama Rao.
27th July 2012 From India, Chennai
Dear All,
our company is taken LIC group gratuity scheme. Is there any alternate option for the employer to maintain their employee Gratuity scheme
Is there any suggestions in this regard
please clarify
R Udayakumar
27th July 2012 From India, Madras
since the person has worked for 5yrs 3months. 5yrs should be considered for 6yrs if person has worked for more 6 months then it is rounded off to 6yrs
27th July 2012 From India, Hyderabad
Hai Sir, What is the Gartuity amount limit after 1.4.2001 to 31.03.2010 .
7th April 2017 From India, New Delhi
What is the Gratuity limits under THE PAYMENT OF GRATUITY ACT,1972 before Rs.3,50,000/-.
And from which date Rs.3.5 Lakhs applicable and what limit amounts before that. Please give references also with evidence.
7th April 2017 From India, New Delhi
Reply (Add What You Know) Start New Discussion

Cite.Co - is a repository of information created by your industry peers and experienced seniors. Register Here and help by adding your inputs to this topic/query page.
Prime Sponsor: TALENTEDGE - Certification Courses for career growth from top institutes like IIM / XLRI direct to device (online digital learning)

About Us Advertise Contact Us
Privacy Policy Disclaimer Terms Of Service

All rights reserved @ 2017 Cite.Co™