Any one can tell me that what is the percentage of the Gratuity? and how can we calculate it?
From India, Pune
4From India, Pune
Hi Tanaji, Calculation of Gratuity* is as follows: Last drawn basic X 15/26 X no of years with the company. * Subject to eligiblity criterion being satisfied Thanks, Meraj
Hello
Some benevolent companies prefer 30 days basic wage for every completed year of service.
In terms of various judgements of Supreme Court, anyone who has completed more than 180 days continuous work, he/she is eligible for that year's gratuity as well.
Please also refer the relevant section of Income Tax as the amount of gratuity tax free is restricted to 10 months pay or Rs.3,50,000/- whichever is lower.
Regards :)
From India, Mumbai
Some benevolent companies prefer 30 days basic wage for every completed year of service.
In terms of various judgements of Supreme Court, anyone who has completed more than 180 days continuous work, he/she is eligible for that year's gratuity as well.
Please also refer the relevant section of Income Tax as the amount of gratuity tax free is restricted to 10 months pay or Rs.3,50,000/- whichever is lower.
Regards :)
From India, Mumbai
Hi,
Let me also add something, an employee who worked for 4 years and few months may also be eligible for gratuity if in last year he/she has worked for 240 days.
I mean, if an employee has worked for 4 years and 8 months and he was present for 240 days in last year, he/she is eligible for gratuity.
Gtauity may also be withdrawn by the employer, if the employee was terminated on the main reason being his conduct, obstructive behaviour.
warm regards,
Umesh Chaudhary
(welcomeumesh@yahoo.com)
From India, Delhi
Let me also add something, an employee who worked for 4 years and few months may also be eligible for gratuity if in last year he/she has worked for 240 days.
I mean, if an employee has worked for 4 years and 8 months and he was present for 240 days in last year, he/she is eligible for gratuity.
Gtauity may also be withdrawn by the employer, if the employee was terminated on the main reason being his conduct, obstructive behaviour.
warm regards,
Umesh Chaudhary
(welcomeumesh@yahoo.com)
From India, Delhi
Hi Abhiritu,
Would appreciate if you can forward a copy or reference case of the Supreme court Judgement on the 180 days continuous work leading to eligibility for that years Gratuity. I'll like to study the same.
180 and 240 days is a criteria for definition of period of continuous work for determination of Gratuity. I suppose 180 days criterion is only for certain class of Establishment(Mines etc) and not general establishment.
Please correct me if I am wrong.
Meraj
Would appreciate if you can forward a copy or reference case of the Supreme court Judgement on the 180 days continuous work leading to eligibility for that years Gratuity. I'll like to study the same.
180 and 240 days is a criteria for definition of period of continuous work for determination of Gratuity. I suppose 180 days criterion is only for certain class of Establishment(Mines etc) and not general establishment.
Please correct me if I am wrong.
Meraj
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FORM-F-NOMINATI ON OF GRATUITY.pdf
Gratuity Form I.doc