What Is Gratuity - Pdf Download

Dear seniors
In my company person want the Gratuity refund. But I did not know about it. Please clearify what is gratuity? what is its procedure to take it and what are the forms used in this procedure
Regards
Suman
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Dear Friend,
This Topic has been raised many times in this commnity and our senirs has given very good information on the same . you can check about the same in Search column.
Gratuity word comes form Gratitude. an employee for his rendering continues services of Five years or more to his employer he is elegible for this payment. Then company will pay to his employee agnist his Gratitude as per the act.
Formula of calculation for Grautity is
Last Basic/26 Days X 15 Days X Number of working Years.
If you want more information about the same you can search in this form what i had mentioned above .

A gratuity is a small monetary gift given to a service worker in acknowledgment for his or her service. Many people refer to a gratuity as a tip, especially in reference to food service workers. Gratuities show gratefulness and appreciation on the part of the customer, rewarding the employee for hard work and also ensuring excellent service in the future. Typically, the amount of a gratuity is a percentage of the total paid for services; this percentage varies, depending on the quality of the service and the industry
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Gratuity is 4.81% of CTC(cost to company), eligibility is 5yrs of continous work in the company, but according to courts a person who has completed his 240days continous work for 4yrs + 10mnths & 18days of 5th year is elligible for payment of gratuity.
Ref: attachment

I am confused. What is the industry practice then? Is gratuity paid for employees who have completed 4 years and 240 days or not? As per the act it is 5 years..

hi
if total period served with the current employer is less than 5 years no gratuity is payable to any individual # for calculation of gratuity period served
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Hi,
Please find the attached file of Gratuity ppt.I think it will give you a better understanding over the subject.
Warmest Regards,
Mohan.M.S

the definitions of SUPERANNUATION and RETIREMENT inthe ppt need close s
crutiny and review
gemniigem

i have worked in a company for a period for 4 years and 2 month. am i eligible for gratuity??? i know that to qualify for gratuity i should complete 5 years of service, but here, the company is not contributing the gratuity instead it is recovered frm my CTC. so pls guide me as to whether i am eligible or not.

Hi,
Suppose if an employee is working for more than 5 yrs in the same company but for initial 2 yrs he was on contract basis and then got confirmed after he completed 2yrs. But overall he has worked for more than 5yrs without any breaks.
Can he be eligible for gratuity????
Regards,
Tejal