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Gratuity
Dear all seniors please help me in following gratuity matter. 1 as per the act for the calculation of gratuity you need to take last basic d.a. amount. but in our salary structure we dont have d.a. component so instead of d.a.we are taking other allowances component which is very high figure than other components and management is also ready for that. now my questing is the method which we are using by taking basic other allowance is correct ? 2 one of our employee top management is completed his almost 8 years in our company still he is working with us when he will leave the company he will be eligible to get his gratuity from company. at this moment his basic is rs. 200250 and other allowance is rs. 101752 that means the gratuity he will receive rs. 1393855 200250101752815/26as per the act the maximum limit of gratuity is rs. 10 lacs. now my question how much amount of gratuity he will get if he leave the company rs. 10 lacs or rs.1393855 ? if only rs. 10 lacs then what about the balance rs. 393855/? waiting for your valuable reply. thanks & regards vaishali
Gratuity ceiling increased from rs.10 lacs to rs.20 lacs for central govt employees
Friends pfa notification dated 4.8.2016 accepting various recommendations of seventh pay commission including enhancement in ceiling of gratuity for central govt employees from rs.10 lacs to rs.20 lacs. thanks
Query regarding gratuity payment
Dear colleague kindly advice for gratuity payment pointed as below. 1. in case of gratuity more than rs. ten lacs i.e. aprox. rs.1300000/ 2. can we deduct tax on 3 lacs as per slab. one accounts professional not agree to pay more than rs.1000000/ in any condition. please advice so that we can produce any example before him. thanks regards rakesh dubey
Gratuity limit raised
Times of india dated 5th march2010: it has been reported that the government has approved raising the ceiling for payment of gratuity for private employees from rs.3.50 lacs to rs.10 lacs. the decision was taken in a meeting chaired by the prime minister on thursday. vasant nair
Payment of gratuity amendment bill 2010
Dear friends i am attaching copy of payment of gratuity amendment bill 2010 as introduced in parliament on 22.4.2010 for your information. the bill provides for increase in ceiling for gratuity from rs.3.50 lacs to rs.10 lacs. regards
Eligibility of gratuity
Hi friends can any one give me the following queries explanation 1 if a employee has joined in nov. 00 and he has left the job in july 05 if i calculate his entire period of service it comes to 4 yrs. and 9 months query : he this employee eligible for gratuity ? in the increment letter company had mentioned that after 4 yrs of his service he is eligible for 30 days gratuity query : do i have to give the 30 days or as per the act i can give only on 15 days ? if i have to give on 30 days then do i have to considered earlier 4 yrs also in 30 days ? the employee is in staff cadre and we are paying monthly salary for 30 days query : at the time of gratuity calculation how do i calculate ? on 30 days or 26 days ? what does the law says on this issue ? thanks in advanced prashant