Hi Friends, Please solve my query. Can an employee is eligible for getting two times gratuity on completion of 10 years of service in a single organisation. Thanx Regards, Preeti
From India, Raipur
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From India, Raipur
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Every employee is eligible for gratuity upon completing 5 continuous years of service. It will be a one-time payment after separation, and you will not receive gratuity twice for completing 10 years.
Gratuity Calculation Formula
Please find the formula for gratuity:
((Basic + DA) * 15/26) * Number of years of service)
Hope that clarifies.
Regards,
From India, Chennai
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23Gratuity Calculation Formula
Please find the formula for gratuity:
((Basic + DA) * 15/26) * Number of years of service)
Hope that clarifies.
Regards,
From India, Chennai
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In a simple calculation, the employee will get 5 months of last drawn wages/salary (basic+da) at the end of 10 yrs if he chose to get separated. Gratuity is only one time settlement. Pon
From India, Lucknow
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From India, Lucknow
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Eligibility for Gratuity Under the Payment of Gratuity Act, 1972
Regarding your query, please refer to Section 4 of the Payment of Gratuity Act, 1972 for the eligibility criteria of an employee for gratuity. This section describes that if an employee has completed 5 years of continuous service at the time of leaving the organization due to resignation, retirement, superannuation, or any contractual agreement between the employer and employee, gratuity is payable for every completed year of service or part thereof in excess of 6 months, at a rate of 15 days of wages payable to the employee. The calculation is as follows: Last Drawn Basic + DA * 15 * Number of Years of Service divided by 26.
Regards,
V. R. RAO PULIPAKA
From India, Bangalore
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Regarding your query, please refer to Section 4 of the Payment of Gratuity Act, 1972 for the eligibility criteria of an employee for gratuity. This section describes that if an employee has completed 5 years of continuous service at the time of leaving the organization due to resignation, retirement, superannuation, or any contractual agreement between the employer and employee, gratuity is payable for every completed year of service or part thereof in excess of 6 months, at a rate of 15 days of wages payable to the employee. The calculation is as follows: Last Drawn Basic + DA * 15 * Number of Years of Service divided by 26.
Regards,
V. R. RAO PULIPAKA
From India, Bangalore
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Eligibility for Gratuity Under the Payment of Gratuity Act
I may provide you with full information regarding this as per the Payment of Gratuity Act:
As per your case, you are eligible for receiving gratuity according to the calculation formula provided by everyone, with one point missing. In the last year of service, if you have completed six months of service, then you are eligible for gratuity for that full year. For example, if you have served 10 years and 6 months, then you are eligible for gratuity for 11 years. Similarly, if you have served 9 years and 6 months, then you are eligible for gratuity for 10 years.
I hope this explanation fully clarifies your point.
Regards,
Arun Kumar Walia
From India, Bhiwani
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I may provide you with full information regarding this as per the Payment of Gratuity Act:
As per your case, you are eligible for receiving gratuity according to the calculation formula provided by everyone, with one point missing. In the last year of service, if you have completed six months of service, then you are eligible for gratuity for that full year. For example, if you have served 10 years and 6 months, then you are eligible for gratuity for 11 years. Similarly, if you have served 9 years and 6 months, then you are eligible for gratuity for 10 years.
I hope this explanation fully clarifies your point.
Regards,
Arun Kumar Walia
From India, Bhiwani
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Calculation of Gratuity Sir I heard recently that calculation of gratuity is being consider by the labour ministry instead of 15 days to 21days or so kindly clarify and reply sir Narayan k vil
From India, Udupi
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From India, Udupi
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Please solve my query. Can an employee is eligible for getting gratuity on completion of 4.6 years of service in a single organisation. Regards, Amit Shetty
From India, Bangalore
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From India, Bangalore
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Here one more questions.. Please Clarify, after the completion of 5 years does any individual can transfer the Graturity amount from his previous company to current company???
From India, Hyderabad
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From India, Hyderabad
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There must be some limit for the amount payable as gratuity can anyone help me with it and the conditions applicable for this.
From India, Pune
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From India, Pune
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Well, the upper limit is Rs. 10 lakh. Amounts exceeding that would attract tax, so the upper limit is already there.
Lower Limit Considerations
As far as the lower limit is concerned, it would be as per the Gratuity Act and depends on the number of years in service. So there is nothing much that companies can do.
From India, Hyderabad
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Lower Limit Considerations
As far as the lower limit is concerned, it would be as per the Gratuity Act and depends on the number of years in service. So there is nothing much that companies can do.
From India, Hyderabad
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HI, The eleigibilty of gratutiy is 5 years, the calculation of gratuity is Last drawn Basic+DA x 15 /26 X no of years of service rendered . Rangarajan
From India, Bangalore
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From India, Bangalore
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As per my knowledge the gratutiy can not be transfered from one employer to another employer. Only PF amount can be transfer. Gratutity will be paid in one time settlement. regards, Rangarajan
From India, Bangalore
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From India, Bangalore
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