No gratuity policy in our company - employee demanding gratuity upon resignation

Vasu, your Company is liable to pay Gratuity as per the Payment of Gratuity Act, 1972.
The fact is that you are liable to pay Gratuity to each employee who has left your Company after completing 5 years or more of service since its inception.
It is a huge non-compliance if it has not been paid till now and you are carrying a big financial and legal risk.
If you need any further help or guidance in the matter, please feel free to connect with us,

Hi Avika,
Thank you very much for your reply. I will talk to my senior management for the same.
T&R
Vasu

Hi
If your Establishment has an employee strength of 10 and more The Payment of Gratuity Act is applicable to you.
In this referred case the employee has completed 6 years of service and as such you are liable to pay the Gratuity.
The Gratuity is payable on the last drawn salary by the employee.
The calculation
Salary basic + DA*No of years *15/26
Regards
P S Lakshmanan
S. G. Management Services
(PAN INDIA Consultant - Labour Law Compliance,
PF, ESI, P Tax, Benefit Management &
POSH COMPLIANCE)

Dear learned members who interacted in this thread,
With due respect to you all I submit as under:
The company has got no gratuity policy. Therefore the question arosed in the mind of queriest as to what to do in this case. This is what I understood from his post.
Accordingly I have given very specific and correct answer to him, as what I feel, stating that whether the the policy is taken or not, is not the criteria for gratuity and in absence of the policy, he has to absorb his liability to pay gratuity from his own pocket i.e. company's account.
Is this answer wrong?
I will appreciate the members if they give value addition to the answer given correctly by any member rather than propagating their business by way of giving some answer. In case the answer is wrong they can correct it.
This is knowledge sharing platform what I feel.

Mr. Korgaonkar, you have responded correctly.