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Dear all friends.
All are knon Gratuity Calculation, Basic+Da / 26* 15 * NO. OF YEAR.
here problem with no of year.
1. Employee experience year is 26 year 8 month 18 days what to do.
how many years i can take.
2. Employee experience year is 27 year 4 month 14 days what to do.
plz send a no of years for both query.
Thanks in advance.
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Hi,
Employee experience year is 26 year 8 month 18 days what to do.
You can consider this as 27 Years
Employee experience year is 27 year 4 month 14 days what to do.
You can consider this as 27 Years.
Regds
Surender
sorry surender.. but second ans. is wrong dear. if under 6 months duty is there then take previous year.
For eligibility of the Gratuity , an employee has to complete 5 years of service and after that, If the any employee worked for more than six month at the time of the settlement, take it as one year. and if an employee works for less than six months, it is to be ignored. Hence Surendar answer is correct ( where the experience is 27 years 4 months 14 days) then it is 27 years.
T.Mahendar Reddy
Surender’s answer is correct in all respect. I agree with Mr. Reddy’s reply. rajkumar
Hi Friends, What about the maximum limit? I think we have something like this when it comes to Gratuity amount. Let me know about this................ Regards Amith R.
Hellow Amit Murty,
The amount of gratuity payable shall be at the rate of 15 days wages based on the rate of wages last drawn (Basic -DA), for every completed year of service ( if the fraction of a year is below six months it is to be ignored and above six months will be treated as one year). The maximum amount of gratuity payable is Rs. 3,50,000/-.
Hellow Amit Murty,
a small typographical error please. ignore the above reply.
The amount of gratuity payable shall be at the rate of 15 days wages based on the rate of wages last drawn (Basic + DA), for every completed year of service ( if the fraction of a year is below six months it is to be ignored and above six months will be treated as one year). The maximum amount of gratuity payable is Rs. 3,50,000/-.
A comment.
Gratuity payable is not subject to any maximum limit under any law. For instance, if the calculation shows a gratuity payable of Rs. 5 lakhs, the employee is entitled to the full amount. However, only Rs. 3.5 lakhs will be considered as a tax free payment, and tax will have to be borne on the remaining Rs. 1.5 lakhs.
Jeroo
do an employee dismissed, eligible for gratuity benefits? if the dismissed employee has been sent the gratuity cheque, then what is the inference from this.can anyone clarify
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