Cite.Co is a repository of information and resources created by industry seniors and experts sharing their real world insights. Join Network
can anybody tell me about the calculation of Gratuity:wacko: Regards Ashok
From India , Delhi
Entitlement : anyone who has completed 5 years in the establishment.
After 5 years, upto 6 months should be counted as previous year and after 6 months to be counted as next year. For eg. 7years 4 months to be counted as 7 years and 7 years 9months to be counted as 8 years.
Calculation: 15 days of Salary entitlement for each completed year of service.
Hope this helps you

From India , Mumbai
Anyone (Employee) who completes 5 years of continuous service in the establishment is entitles for Gratuity as per the Gratuity Act,1972.

After completion 5 years, upto 6 months should be counted as previous year and after 6 months to be counted as next year. For eg. 6 years 5 months to be counted as 6 years and 6 years 8 months to be counted as 8 years.

Calculation: 15 days of Salary entitlement for each completed year of service which is calculated as 15/26 X Basic=DA XNo.of years of service.(while calculating the Gratuity we take 26 days only in the month)

For Ex: If anybody completes 6 yeras of service and his Basic+DA is Rs. 5000/-

15/26X5000X5 =



Hope this helps you

Anyone (Employee) who completes 5 years of continuous service in the establishment is entitles for Gratuity as per the Gratuity Act,1972.

After completion 5 years, upto 6 months should be counted as previous year and after 6 months to be counted as next year. For eg. 6 years 5 months to be counted as 6 years and 6 years 8 months to be counted as 8 years.

Calculation: 15 days of Salary entitlement for each completed year of service which is calculated as 15/26 X Basic=DA XNo.of years of service.(while calculating the Gratuity we take 26 days only in the month)

For Ex: If anybody completes 6 yeras of service and his Basic+DA is Rs. 5000/-

15/26X5000X6 =Rs.17308

Hope this clears you about Gratuity.

ThanQ

From India , Hyderabad
I want to confirm one thing, If company wants then it can provide gratuity after 3 years as well. Kindly confirm if its true?? :confused:
Thanks in advance.
Prabhjot S. Kashyap

<link outdated-removed>

From India , Delhi
What are the calculation for gratuity if someone’s Joining Date is 01-10-2001 & Resignation date 01-09-2008. Please help, calculate complete gratuity. PARESH
From India , Ahmadabad
dear paresh
date of joining 01-10-2001 and resignation date 01-09-2008
total 6 years and 10 months, so gratuity calculate 7 years
dear paresh
total years 6 and 9 months
so gratuity payable 7 years
navi

From India , Delhi
There is not any boundation on company that company will pay gratuity only after completion of 5 years if it wants it can pay before 5 years but the same can be happened only if the Company have thier own trust.
other wise the gratuity will be paid as per the Gratuity Act 1965.
your's friend
Rahul Bhardwaj

From India , Delhi
It is entirely left on company’s discretion to give gratuity to anyone regardless of the ceiling on wages or number of years worked. But they cannnot deprive anyone legally entitled to it.
From India , Mumbai
Hi,
Anyone (Employee) who completes 5 years of continuous service in the establishment is entitles for Gratuity as per the Gratuity Act,1972.
After completion 5 years, upto 6 months should be counted as previous year and after 6 months to be counted as next year. For eg. 6 years 5 months to be counted as 6 years and 6 years 8 months to be counted as 8 years.
Calculation: Last month drawn salary*15/26*No. of Yrs Service

From India , Madras
however if the company is governed by payment of Gratuity act, if 5 years continuous service is there the maximum amount of gratuity will be Rs.350000 only
From India , Madras

This discussion thread is closed. If you want to continue this discussion or have a follow up question, please post it on the network.
Add the url of this thread if you want to cite this discussion.






About Us Advertise Contact Us
Privacy Policy Disclaimer Terms Of Service



All rights reserved @ 2020 Cite.Co™