Hi All,
I have worked in a Pvt. Ltd. organization for 9 years and 8 months (at the time of resigning). Could anyone please tell me whether I qualify for 9 years or 10 years of service and how exactly my gratuity shall be calculated if my basic is 16300 and gross of 38000+? I have found the following information:
1. For more than 5 years but less than 10 years of service, gratuity calculation shall be half-month salary multiplied by the number of years of completed service.
2. For 10 years or more of service, gratuity calculation shall be 1 month salary multiplied by the number of years of completed service.
Please provide correct and suitable advice here or at pthapas@gmail.com.
Thanks! Paras
From India, Delhi
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I have worked in a Pvt. Ltd. organization for 9 years and 8 months (at the time of resigning). Could anyone please tell me whether I qualify for 9 years or 10 years of service and how exactly my gratuity shall be calculated if my basic is 16300 and gross of 38000+? I have found the following information:
1. For more than 5 years but less than 10 years of service, gratuity calculation shall be half-month salary multiplied by the number of years of completed service.
2. For 10 years or more of service, gratuity calculation shall be 1 month salary multiplied by the number of years of completed service.
Please provide correct and suitable advice here or at pthapas@gmail.com.
Thanks! Paras
From India, Delhi
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Hi Paras,
Thank you for your message. I appreciate the informative and timely advice you shared. I would like some clarification on gratuity for employees with 10 years and above of service. Specifically, I am questioning whether the statement below is correct:
"Gratuity payable shall be one month's pay for each completed year of service subject to a maximum of Rs.15,000/- or fifteen months' pay, whichever is less."
Could you kindly provide your valuable input on this matter?
Regards,
Paras
From India, Delhi
Acknowledge(0)Amend(0)
Thank you for your message. I appreciate the informative and timely advice you shared. I would like some clarification on gratuity for employees with 10 years and above of service. Specifically, I am questioning whether the statement below is correct:
"Gratuity payable shall be one month's pay for each completed year of service subject to a maximum of Rs.15,000/- or fifteen months' pay, whichever is less."
Could you kindly provide your valuable input on this matter?
Regards,
Paras
From India, Delhi
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Less than 5 years service - Eligibility for payment of gratuity.pdf
Employee Benefits.doc