What is gratuity? I\'m working for more than 8 years in a firm. I need to know the amount of gratuity due to me. Where does it get deposited?
From India, Mumbai
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1From India, Mumbai
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Gratuity is an accumulated amount that we receive from the principal employer after resigning from the company. However, your working period should not be less than 5 years. According to the calculation, if you have worked for 8 years, then the amount you will receive is: Basic pay/26 * 15 * Number of years. Seniors, please confirm if I am not wrong.
From India, New Delhi
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From India, New Delhi
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i feel this is the formula for computation of Gratuity 15/26 *last drawn basic salary*no of continuous years of service (in your case this will be 8 if u have worked for 8 years)
From India, Pune
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From India, Pune
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As per Gratuity rules, you will receive the amount calculated as follows:
- Basic pay
- Number of working days (26 days)
- Half-month salary (15 days)
- Years of service (8 years as you mentioned)
Any person is eligible for gratuity if they work for more than 4 years, 10 months, and 11 days. Therefore, you are now eligible for gratuity.
From India, Visakhapatnam
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- Basic pay
- Number of working days (26 days)
- Half-month salary (15 days)
- Years of service (8 years as you mentioned)
Any person is eligible for gratuity if they work for more than 4 years, 10 months, and 11 days. Therefore, you are now eligible for gratuity.
From India, Visakhapatnam
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Mr. Rohan, Same thing which I have mentioned there, you also repeated the same. I asked there to correct me if I am wrong.
Mr. Shama ji, Definitely, the person will be eligible for gratuity because he has worked for 4 years, 10 months, and 11 days, which will be counted as 5 years. However, gratuity is calculated based on a person working for 240 days in a year and 5 days a week. Therefore, in 5 years, he should work for 1200 days. According to you, he has worked for 4 years, 10 months, and 11 days, so he is definitely eligible for gratuity.
From India, New Delhi
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Mr. Shama ji, Definitely, the person will be eligible for gratuity because he has worked for 4 years, 10 months, and 11 days, which will be counted as 5 years. However, gratuity is calculated based on a person working for 240 days in a year and 5 days a week. Therefore, in 5 years, he should work for 1200 days. According to you, he has worked for 4 years, 10 months, and 11 days, so he is definitely eligible for gratuity.
From India, New Delhi
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Please go through all the related links provided on your screen; you will find more than enough materials. Also, note that gratuity becomes due only when an employee is leaving the employer after completing a minimum qualifying service of 4 years and 240 days in the fifth year.
All newcomers are requested to exhaust all the research options provided in this forum before opening a new post or query.
Regards
From India, Bangalore
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All newcomers are requested to exhaust all the research options provided in this forum before opening a new post or query.
Regards
From India, Bangalore
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Gratuity-Contin uous Service-countin g broken period with same employer-Madras HC Judgment.docx