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Basic salary for gratuity calculation - employee who has basic salary e.g 45,000 (basic +da) but his basic is restricted to pf as 15,000?
Hello hr professionals i would like to implement gratuity benefits for our employees as per the payment of gratuity acts 1972. as per the act gratuity formula is no of years of services last drawn basicda15/26. i have some doubts regarding the same how we will consider basic for calculation in case of any employee who has basic salary e.g 45000 basic da but his basic is restricted to pf as 15000? which basic needs to be considered while calculating his gratuity. please explain.
Gratuity calculation on basic - are we wrong in computing gratuity from the date of joining?
Hello my organisation has been contributing gratuity as part of ctc from the date of joining. the way of calculation of gratuity has been basic x 15/26. this was accepted by the employee at the time of joining however the employee has now expressed his displeasure for the same as he is losing an amount of rs 5000 if the gratuity is calculated for the last drawn salary x 15/26. he also cites that since his joining his basic has gone up 37 in the last 6 years. i would like to know that are we wrong in computing gratuity from the date of joining. please advise.
Gratuity calculation - last drawn basic means - last month payslip basic or basic mentioned in ctc
Last drawn basic / 26 x 15 x no. of years of service last drawn basic means last month payslip basic or basic mentioned in ctc. is basic taken from ctc or monthly payslip for calcutaing gratuity do all mnc companies have same rule for gratuityi.e. which basic they consider payslip wise or ctc basic if an employee was on loss of pay for half the month his salary will be reduced obviously and basic in salary slip is also reduced. when the employee decides to quit. what basic should we consider his last month payslip basic or his actual basic in ct irrespective of monthly basic? example : actual basic per ctc 30000 last month basic according to payslip 15000due to loss of pay which one should we consider 30k or 15k? please help
Gratuity - da ?
Hi this is with reference to gratuity. it is calculated as.... last drawn salary x 15/26 x no of years of service. where last drawn is basic da. i know the basic number but we do not have da now a days but go for hra. in this case how to find the da for companies that are covered in shops and establishment act? as per a notification of minimum wages act i learnt that da is rs.899/pm in tamil nadu . is this da amount correct? regards neelam
Gratuity query-basic or last drawn
Hello everyone. i have joined a company in bangalore in march 2011. now i have a better opportunity with one more organisation and the current employer is troublesome too.i need to wait for 6 more months atleast. is it wise for me to leave before taking my gratuity? i am under confusion that is basic salary which is considered for calculation of gratuity or last drawn salary. if it is last drawn salaryis it the net or take home salary?
Gratuity settlement - gratuity on last drawn salary or basic will be considered on the month of renewal?
I joined a company on 1st aug 2002 and i resigned on 30th april 2011 so total worked is 8yrs 8 monthsso 9 years will considered for calculation my basic was 22500/ effective 1st april 2011 before increment basic was 15000/ according to gratuity act i supposed to get gratuity on last drawn salary which is 22500/ gratuity calculation 22500x15x9/26116827 our company is taken lic group gratuity scheme now our hr guy is telling that they renew gratuity scheme in every year in dec so basic will be considered on that months so his calculation is 15000x15x9/2677885 so according to his calculation i m losing 39000/ dear friends could u pls help me in this regard of gratuity calculation and renewal policy of group gratuity scheme is there any document which i can go back and fight for right calculation?