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 years of service / 26
The maximum limit for Gratuity calculation is Rs. 350,000/-. Is this information correct? If not, kindly let me know the latest calculation.
Regards,
Vinayak Sonawane
From India, New Delhi
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9Last drawn Basic * 15 days * No. of years of service / 26
The maximum limit for Gratuity calculation is Rs. 350,000/-. Is this information correct? If not, kindly let me know the latest calculation.
Regards,
Vinayak Sonawane
From India, New Delhi
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The maximum gratuity limit is not Rs. 3,50,000, but the recent amendment states it is 10 lakh. I am attaching the GO for your reference and records. The formula is as follows:
Gratuity Calculation Formula
Basic
--------
x 15 x number of completed years of service
26
Regards,
Alphonse
[Phone Number Removed For Privacy Reasons]
From India, Madras
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Gratuity Calculation Formula
Basic
--------
x 15 x number of completed years of service
26
Regards,
Alphonse
[Phone Number Removed For Privacy Reasons]
From India, Madras
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Dear 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
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From India, Delhi
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If an employee has worked for 5.4 years, will gratuity be calculated based on 5 years or the full 5.4 years?
Gratuity Calculation Example
Below is the calculation. Is it correct?
DOJ DOL No. of Years Last Basic Gratuity Amount
11-Aug-07 1-Jan-13 5.4 10350 29856
Regards,
Naval
[Phone Number Removed For Privacy Reasons]
From India, Indore
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Gratuity Calculation Example
Below is the calculation. Is it correct?
DOJ DOL No. of Years Last Basic Gratuity Amount
11-Aug-07 1-Jan-13 5.4 10350 29856
Regards,
Naval
[Phone Number Removed For Privacy Reasons]
From India, Indore
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Gratuity - Taxation Issues.docx