Reg. Gratuity - Employee Management

Hi Shyam Agrawal,
Fine & thanks for your valuable information.Also update the procedure, i want to do in the policy making & Some more suggestions.
Regards,
Saravanan.M

Dear Neha,
Greetings for the day,
It may be noted that above calculation is 100% true, it is also true that gratuity is calculated on last drawn salary but only component of basic+da should be consider and rest all other component of wages should not be taken. Last but not least the working days for each year should be 240 days, not less than that.
thanks & regards,
sumit kumar saxena

Dear Shenbagarajan,
Greetings!
I am from Maharashtra.Today morning i read a news on front paper of Marathi Daily ,Divya Marathi .The news is as "Gratuity eligibility will change to Three Years From 5 years and if Employee changes the employement after three years of service then it is the responsibility of The existing employer the transfer the amount of gratuity to new Employer. I realy got surprised from this news,but Divya Marathi is the best marathi news paper in Maharashtra as per my knowledge.Is Govt to amend PAYMENET OF GRATUITY again ?
All seniors plese check with all posibility and post your findings.
Mangesh Wakodkar
Aurangabad.

HI...
I am confussed if anybody completed 07 yrs and he want left the orgnisation then what he will get gratuity or not ? Pl clear my doubt.
Regards
Prakash M

Dear Mr. Saravanan
LIC calculates the amount to be paid or deposited based on the length of service, salary, retirment age etc of the employees. Certainly it is beneficial to both managment and employees. Full gratuity is insured and will be paid in case of death of an employee while in service. Then management can avail income tax rebate on the amount deposited with LIC.
MOHAN KK

Dear Prakash Ji,
Why confusion ? It is simple. The employee would get gratuity for 7 years service @ 15 days salary for each completed year @ last pay + dearness allowance admissible; in the formula 7*(Pay+DA)*15/26.

HI
What is the eligibility to get gratuity amount? Termination person can get the amount if he/she completed five years means!!!!!!!!!!!!!!!!
Regards,
Saravanan.M

Dear Saravanan Ji,
More than 5 years' continuous services with honesty is the eligibility criteria for payment of gratuity. If the termination is on the ground of dishonesty or misconduct (removed from services on these grounds), then gratuity is not payable.

Dear Friends,
My company has plan to give gratuity to employees on this year onwards. We already registered for Shops & establishments act, but for gratuity we have to register or not. We plan for LIC to Tie up for gratuity group scheme. But also we need other than LIC, manually(i.e.,In Full Final Settlement, Separately Cheque or Cash) if we will give gratuity amount to reliving employees means any constraints is there or not. We under the Tamilnadu Shops & establishments Act.
Awaiting for your reply!!!!!!!
Thanks & Regards,
Saravanan.M

Dear Saravanan Ji,
I would suggest you to please contact nearest LIC of India office for gratuity policy and study their terms and conditions before you take a final decision in the matter. That will help you take a good decision. Thanks & regards,