nahushss_1709Dear Sir / Madam,
Kindly help me with the latest calculation for Gratuity.
As per my information, I know the following calculation -
Last drawn Basic * 15 days * No. of service in years / 26
Maximum limit for Gratuity calculation is Rs. 350000/-
Is this information correct? If not kindly let me know the latest calculation.
From India, New Delhi
PROFESSIONALS AND BUSINESSES PARTICIPATING IN DISCUSSION
Head Hr & Administration
Admin, Hr, It, Finance
Admin. Service In Finance & Accounts
AlphonseDear HR friend
The maximum gratuity limit is not Rs.3,50,000 but the resent ammentment says it is 10lakh. I am attaching the GO for your reference and records
Formula is as follows
-------- x 15 x no of complected years of service.
From India, Madras
lalitmohanDear Friend Kindly tell me that If any employee has been complete 4 yrs 11 month.Will he get gratuity as per our low??. I am waiting your prompt response. With Best regards Lalit Mohan
From India, Delhi
Naval RDear All,
If Employee have worked for 5.4 Years then Gratuity will be calculated on 5 years or full 5.4 Years.
Below Calculation is correct or NOT.
DOJ DOL NO.of Year Last Basic Gratuty Amount
11-Aug-07 1-Jan-13 5.4 10350 29856
From India, Indore
BHANUDAS BHOREWhat is the procedure of Appeal to Income tax? and Which steps assesses has to fallow up to Supreme Court?