I was under the impression that it requires 5 years of service to be eligible for gratuity payment. But recently I heard that more than 4-1/2 years of service will be considered for gratuity payment (by rounding off).
Actually, I have worked for a company for 4 years & 9 months. So, will I get any Gratuity?? Please let me know the exact fact & confirm.
From India, Calcutta
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Actually, I have worked for a company for 4 years & 9 months. So, will I get any Gratuity?? Please let me know the exact fact & confirm.
From India, Calcutta
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Dear Sudipto,
The law states that if you have completed 4 years and more than 240 days in your 5th year, you are eligible to receive gratuity. Recently, there was a high court order which declared that an employee is entitled to gratuity upon completing 4 years and 8 months of service. This calculation is derived from adding 4 years to 240 days, which equals 4 years and 8 months. Therefore, you are eligible to receive your gratuity at the following rate:
(Last drawn Basic Salary + DA) x 5 years x 15/26 = your gratuity.
Please refer to the Payment of Gratuity Act 1972, Section 2A, Continuous Service, Sub-Section 2(a)(ii) for more details.
Enjoy!
From India, Hyderabad
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7The law states that if you have completed 4 years and more than 240 days in your 5th year, you are eligible to receive gratuity. Recently, there was a high court order which declared that an employee is entitled to gratuity upon completing 4 years and 8 months of service. This calculation is derived from adding 4 years to 240 days, which equals 4 years and 8 months. Therefore, you are eligible to receive your gratuity at the following rate:
(Last drawn Basic Salary + DA) x 5 years x 15/26 = your gratuity.
Please refer to the Payment of Gratuity Act 1972, Section 2A, Continuous Service, Sub-Section 2(a)(ii) for more details.
Enjoy!
From India, Hyderabad
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Less than 5 years service - Eligibility for payment of gratuity.pdf
Doctors on Part Time payment-Gratuit y eligibility- Gujarat High Court.docx
Payment of Gratuity Act, 1972 & The Rules.ppt