I was employee of X company joined on 1st Sep 2005 and this company was taken over by Y company on 1st Feb 2009. With this take over it was continuation of service. I left company Y on jan 2012. Gratuity amount in X company was not part of CTC and gratuity act 1972 was being followed there. But in Y company gratuity amount was part of CTC. So my queries follows like this
a. How the gratuity amount will be calculated in this scenario ?
b. Will i get amount deducted by Y company separately and X company as per gratuity formula ( 1st sep 2005 - 1st feb 2009) ? or will it be just calculated based on number of years multiplied with gratuity formula.
c. I presume this amount is non taxable.
a. How the gratuity amount will be calculated in this scenario ?
b. Will i get amount deducted by Y company separately and X company as per gratuity formula ( 1st sep 2005 - 1st feb 2009) ? or will it be just calculated based on number of years multiplied with gratuity formula.
c. I presume this amount is non taxable.