Re: Gratuity Eligible On Maximum Salary

ak_c6
Dear Sir,
Please guide us what the maximum salary limit for gratuity payment?
Thanking You,
Akhilesh
fogat
There is no wages limit in it . It gives on Last Basic + DA . Gratuity limit is 10 Lcs .
hr@amar
Dear,
Gratuity is calculated on last drawn salary (Basic), formula is last basic+da/26days*15days*number of years completed=gratuity.
sumitk.saxena
Dear Akhilesh,
Greetings for the day,
In addition to fogat & amar answer i would onl quote that for payment of gratuity service of 5 years is compulsory & in each year working days should not be less that 240.
Thanks & Regards,
Sumit Kumar Saxena
hr@amar
Dear Sumit,
If employee has not worked for 240 days suppose he has worked only 230 days in any one year out of five year so is he not eligible for gratuity?
hr@logiphilic.com
Dear Sir,
Please guide about the meaning of last basic salary used in above.
hr@amar
Last basic salary means at the time of leaving service whatever basic salary employee has
vishwanathsavula
Hi Amar,
You don't have to calculate whether an employee completes 240 days in a year to determine eligibility. An employee who served for 4yrs and even a fraction of six month, counts for eligibility.
bunti
Dear All,
Maximum gratuaty= 3.5 L.
Formula=Basic + D.A./26*15*no.of years.
Regards,
Ashish
09469489001
GHANSHYAM 1896
gratuity calculation formula is
last drawn basic+da*26*15*no of years worked
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