If an employee has completed 4 years and 290 days, is he eligible for gratuity, or is gratuity only given upon completion of 5 years? Is this at the discretion of the company or must it be followed as per the law?
From India, Bangalore
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4From India, Bangalore
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Hi As pon suggested any employee who has continuous experience of 4 Years & 241 days are eligible for gratuity
From India, Bangalore
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From India, Bangalore
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Hi friends, I have a query regarding gratuity as a part of CTC. In the situation mentioned, if an employee leaves the company before completing 4 years and 240 days, will the employee still be eligible for gratuity? Please share your opinion.
Regards,
RS
From Singapore, Singapore
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Regards,
RS
From Singapore, Singapore
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First, you should know that the full form of CTC is Cost To Company, which means any cost related to employees is included in the company's CTC. Gratuity is also one type of expense for the employer, given after completing five years of work. Only then are you eligible for it; otherwise, not. Each year, the company includes this expense in its balance sheet as an advance Gratuity provision for all employees. If you have not completed the required five years, then this does not count as a cost to the company. However, if you have completed the required time, you are eligible for Gratuity.
Regards,
Vivek
From India, Ahmadabad
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Regards,
Vivek
From India, Ahmadabad
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With reference to your quote, please note that employees who have worked a minimum of 4 years and 240 days are eligible for gratuity. Additionally, if a company operates on a 5-day workweek, its employees should work a minimum of 4 years and 190 days. If you require further clarification, kindly contact us.
Regards,
Ganesh.P
From India, Chennai
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Regards,
Ganesh.P
From India, Chennai
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Gratuity calculation.doc
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