Gratuity [Thread 377218]

Hi Friends,
Please solve my query.
Can an employee is eligible for getting two times gratuity on completion of 10 years of service in a single organisation.
Thanx
Regards,
Preeti

Hi Preeti...
every employee is eligable for gratuity on completion of 5 continuous years of service. and it will be only 1 time payment after separation and you will not get 2 times gratuity for completing 10 yrs.
please find the formula for gratuity
((Basic + DA)*15/26)*No. of years of service )
hope that clarifies

Relocate to Pune help me to get suitable job. Having Manft. Exp. 18+ Yrs.in HR/IR & Per/Admin Kindly suggest me a job. Knowlgd.Marathi. K.gaddam

In a simple calculation, the employee will get 5 months of last drawn wages/salary (basic+da) at the end of 10 yrs if he chose to get separated. Gratuity is only one time settlement.
Pon

Dear Preeti,
Refer to your query, Pl go through Sec 4 of Payment of Gratuity Act -1972 for eligibility criteria of an employee for Gratuity - the section describes that, If any employee have completed 5 years continuous service at the time of leaving from the organisation on resignation, retirement, superannuation or any contract of agreement between employer and employee etc.
Gratuity is payable for every completed year of service or part there of in excess of 6 months service @ 15 days of wages payable to the employee. Calculation is = Last Drawn Basic + DA * 15 * No.of.Yrs Service divided by 26.
Regards
V R RAO PULIPAKA

Hi!
this is priya
I want to know about about payroll, PF, ESI, gratuity its calculations and need to understand the terms too

I may give you the full information in this regard as per Payment of Gratuity Act :-
As per your case you are eligible for getting Gratuity as per the calculation formula given by all , where one point is missing , that in the last year of the service if you have completed 06 ( Six ) months of service then you are eligible for getting the Gratuity for that full year . e.g. if you have served 10 years and 06 months then you are eligible for gratuity for 11 years and if you have served 9 years and 6 months then you are eligible for gratuity for 10 years.
I hope with this quote your point stands fully clarified ,
Arun Kumar Walia

Hi Bidyadha,
Employees PF contribution of 12% have to be dedcuted on following allowances -
1) Basic Wages + DA
2) Retaining Allowance (if any)
3) cash value of Food concession
Further any details please refer the Section 6 of EPF Act, 1952.

Calculation of Gratuity
Sir
I heard recently that calculation of gratuity is being consider by the labour ministry instead of 15 days to 21days or so
kindly clarify and reply sir
Narayan k
vil

Dear Seniors,
I was working in a (MNC) HYDRO ELECTRIC POWER PROJECT for the last 5.9 year and admitted my resignation ; which is duly approved by my Site Incharge. But HR Manager said that you r not Eligible to get your GRATUITY. When i request to him why it is ; he had no answer simply said no.
So Dear Seniors please help me regarding this what should i do. MAy i go through COURT or anything else.
Thanx,
Sachin
+91 98160 66582