Gratuity Amount To Be Deducted? - Xls Download

Can any one tell me how much amount to be deduct for gratuity in a month?
My Gross salary is 15000/M
Regards,
Rajesh

It depends on how much you are earning in a month?how can we tell without knowing your salary?

Dear friend,
Gratuity is the amount to be paid to the employee by the management on copletion of 5 years of uninturrupted service hence there is no question of any amount from the employee like the deductions what we will be doing towards ESI, PF,PT & Labour welfare fund.
Thanks and regards - kamesh

Kamesh,
Thanks for the information.But i would like to know that do u pay one at a time to the employees in completion of 5years using gratuity formula or monthly we contribute? If monthly we contribute like 250 or 500 rupees based on the salary it would be more easier na?

Dear Rajesh
No question of monthly payment and not even on completion of 5 years also. The employee while leaving the company if he completed five years of continuous service and above then only he will be eligible for Gratuity. If you work for 4+ years then also you are not eligible for the gratutity amount.
In the above circumstances it is not possible to pay on monthly basis and as per the law also it is only after completion of 5 years of continuous service only.
Regards - kamesh

Dear All,
If it is for CTC calculation on gratuity, then it will be - 4.81% of one's monthly basic.
Post your question clearly..
with Warm regards,
S.Sethupathy
Excellent HR Services.

I see companies paying gratuity after 2yrs of service how come they do such things when it is not the act to do so ?

Kamesh,
From your clarification i came to knew that Gratuity would be paid after completion of 5yrs right? Now suppose if my gross is 25000 and i have completed 5yrs of active services, Now does the company pay me a lump sum amount? eg 70-80K one at a time?

Dear Rajesh,
Pl. go through my posting very carefully. If you are continuing in the same company after completion of 5 yeqars then you don't get any thing and when you have resigned and leaving the company then you will be getting your Gratuity amount ie., after 20 years of continuity of service you are leaving the company then you are eligible for that much of amount and the maximum limit is raised to 10 lakhs.
Your one more query is that some companies pay gratuity after 2 years of service: the management / companies can pay on daily basis also on various heads like Gratuity / ex-gratia / production bonus etc., if they have that much of money but the Gratuity under Statute should be paid to the employee at the time of leaving the organization after completion of 5 years of continued service.
I believe now you are clear.
Regards - kamesh

[SIZE="3"]PLease be very clear that NO DEDUCTIONS are to be made from your Gross Salary towards Gratuity.
If it is being done in your organization, it is illegal.
Gratuity is payable by the employer to an employee who has completed at least 5 years of continuous employment, at the time of leaving the Company.
Vasant Nair