What Is Gratuity??? - Xls Download

Hi Shwetha,
One point which is missed out is that you the maximum Gratuity is Rs 3.5 lakhs and in case it is more than that it is left to management to decide on whether to pay or not. And the amount above Rs 3.5 lakhs is taxable. For your reference i have given you the link of one more discussion on the same topic. I hope this will be of some use for you.
<link no longer exists - removed>
Regards
Amith R.

Hi friends,
Kindly let me know whether the gratuity amount should be given from the company or should it be deducted from the employee's salary.... Is there any tax benefit for the company...
Thanks
Sowmya

Dear All,
I have a one query, In our organisation one of our employee was left his job and he has completed 4 years and 9 months service, Please suggest me is he is applicable for gratuity or not ?????????????????? very urgent. As per the factories act he has not completed his 240 working days in his last year service.
Anil Bhoite

HiI agree with selvaraj, ;Gratuity as per act payable to employees who have put in long service in a company, so whoever completed 05 years of continuous service will be eligble for gratuity.Many company have created a gratuity fund in LIC or in Banks to keep a reserveThe calculations are same as selvaraj explainedThere is a limit of Rs. 5,00,000 lacsregdsravindra

Very Very Nice information, Because one of our employee is left job before completion of Five years of service but he has completed his service of 4 years and 245 days,
Thanks

Dear All,
The following link will take yoy to the precise complete information regarding gratuity calculation and meaning.
Calculate Gratuity
Thanks & Regards,
Vineet Saini

thanx all for giving the info on gratuity but will anybody tell me whether their is some benefit of gratuity in income tax

Hi Amith,
I tried to calculate my gratuity, but there is some problem with the formula for total duration of service? can u help with that also?
regards
simmi

Dear Amit can u plz clarify to me that a person should work for 240 days in all the 5 years or any of the year in the 5 years???
Regards,
Shree

Hello
Please help me!!!
My company has been showing the gratuity in my CTC. It is been shown in the CTC in the employers part. Is the co. eligible to show the gratuity even if i have completed only 3 years with the co. Is the CTC structure legal as per the co. act as they are showing many things like bonus and also loyalty bonus in the CTC.