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Gratuity payment - old employee since 2014 - company just reached the figure of 10 employees this month
Hi seniors need your guidance for gratuity. we are a small recruitment company just reached the figure of 10 employees this month and company got incorporated in 2014. so my first employee has started from may 2014 and she has completed her five years with the organization. i am applying for the gratuity benefit for all the employees so it would be done in this month. queries are stated below. 1 my first employee who is with me for past five years if she leaves the company say in the coming month would she be eligible for the gratuity for last five years which i wish to pay her even though i will start the gratuity plan from this month. i have raised the same query with lic gratuity and they told me that she would be eligible but as per the other seniors she wont be eligible as company has started the gratuity recently. please guide as we want to be very fair with the employees in case of their benefits.
Gratuity formula calculations format as per tentative details - xls download
This excel is for understanding the gratuity calculation which is a tentative calculation to find the amount for gratuity when person left from the organisation. or we say at the time of full and final settlement. formula : last drawn salary/2615no of yrs service. rules : 1 which consist of minimum 5 yrs service as per gratuity act 1972. and if person complete more than 6 month then its consists 1 year. 2 but the person who is minimum 4 yrs & 8 month service is consider as "0" zero years of gratuity service. 3 and if his is work for 4 yrs & 8 month and more but less than 5 yrs then also he is consider as 5 yrs of services for gratuity is applicable.
Employees not covered under gratuity act
I have a doubt for gratuity calculation for employees not covered under gratuity act. a. do we have a standard formula for calculation of gratuity benefit for not covered employee. b. the formula used in common in my opinion is for determining the taxability portion of gratuity received and is mentioned in it act not in gratuity act. which is 1/2 month s salary for every completed year of service based on last ten month s average salary. seek clarification from readers rajesh dalmia
Gratuity - an employee claiming a one-month gross salary to be paid for 6 years?
One of our employee contracts mentioned the gratuity clause as " gratuity you will be paid one month s salary for every completed year of service as per gratuity act". how much he eligible to get as gratuity after servicing of 6 years in the company? gross salary break up basic 50 da 10 hra 20 other allowances 20. an employee claiming a onemonth gross salary to be paid for 6 years? employer claiming gratuity act only applies? please clarify which one is correct?
Is gratuity payable after completing 4 years 11 month of continuous service
I wanted to know about payment of gratuity to an employee who have completed 4years 11 month of continuous service in a company. as per gratuity act what are the provision laid out in such a case. is gratuity payable or not to employee who resigned & left the services of company after serving 4 years 11 month. regards sanjay gupta
Gratuity calculator
Hi if a person goes out for one month by resigning the job and rejoined after one month will it be takes as break in service for gratuity calculation ? kindly answer. thanks.