Dear seniors,
In my company, a person wants the Gratuity refund. However, I do not know about it. Please clarify what gratuity is, what its procedure is to claim it, and what forms are used in this process.
Regards,
Suman
Email: suman.city.hr@gmail.com
From India, Panipat
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1In my company, a person wants the Gratuity refund. However, I do not know about it. Please clarify what gratuity is, what its procedure is to claim it, and what forms are used in this process.
Regards,
Suman
Email: suman.city.hr@gmail.com
From India, Panipat
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This topic has been raised many times in this community, and our seniors have provided very good information on the same. You can check about the same in the search column.
Understanding Gratuity
The word "Gratuity" comes from "Gratitude." An employee, for his continuous services of five years or more to his employer, is eligible for this payment. Then the company will pay to his employee against his gratitude as per the act.
Gratuity Calculation Formula
The formula for calculating gratuity is: Last Basic/26 Days X 15 Days X Number of working Years.
If you want more information about the same, you can search in this forum as mentioned above.
From India, Hyderabad
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Understanding Gratuity
The word "Gratuity" comes from "Gratitude." An employee, for his continuous services of five years or more to his employer, is eligible for this payment. Then the company will pay to his employee against his gratitude as per the act.
Gratuity Calculation Formula
The formula for calculating gratuity is: Last Basic/26 Days X 15 Days X Number of working Years.
If you want more information about the same, you can search in this forum as mentioned above.
From India, Hyderabad
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Gratuity is 4.81% of CTC (Cost to Company), eligibility is 5 years of continuous work in the company. However, according to courts, a person who has completed 240 days of continuous work for 4 years and 10 months, and 18 days of the 5th year, is eligible for the payment of gratuity.
Ref: attachment
From India, Pune
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Ref: attachment
From India, Pune
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I am confused. What is the industry practice then? Is gratuity paid for employees who have completed 4 years and 240 days or not? As per the act it is 5 years..
From India
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From India
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Hi, Please find the attached file of Gratuity ppt.I think it will give you a better understanding over the subject. Warmest Regards, Mohan.M.S
From India, Madras
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From India, Madras
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the definitions of SUPERANNUATION and RETIREMENT inthe ppt need close s crutiny and review gemniigem
From Pakistan, Lahore
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From Pakistan, Lahore
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I have worked in a company for a period of 4 years and 2 months. Am I eligible for gratuity? I know that to qualify for gratuity, I should complete 5 years of service, but here, the company is not contributing to the gratuity; instead, it is recovered from my CTC. So, please guide me as to whether I am eligible or not.
From India, Bangalore
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From India, Bangalore
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Hi Tejal,
Suppose an employee has been working for more than 5 years in the same company, initially on a contract basis for 2 years and then confirmed after completing 2 years. However, overall, he has worked for more than 5 years without any breaks. Would he be eligible for gratuity?
Regards,
Tejal
From India, Mumbai
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Suppose an employee has been working for more than 5 years in the same company, initially on a contract basis for 2 years and then confirmed after completing 2 years. However, overall, he has worked for more than 5 years without any breaks. Would he be eligible for gratuity?
Regards,
Tejal
From India, Mumbai
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First, verify if you have the gratuity policy in your organization. You cannot do it as and when required. It has various processes to undergo. Second, see if the person has completed 5 years in the company; only then is he eligible for it. If he has not served 5 years, then you need not worry.
Thanks and regards,
Sanchi
From India, Bangalore
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Thanks and regards,
Sanchi
From India, Bangalore
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Gratuity calculation.doc
Gratuity Calculation tool.xls