Hi,
I was working with a private company for 5.2 years, in my ctc some X amount is offered under annual as a retirals. In offer letter they have mentioned as it is given under gratuity act 1972.
Till now after 3 months, they didn't finalize the amount of gratuity. How these X amount will be calculated ? is it will be DA? if not will they divide the X/12 and add it basic and *15/26*5?? this make a huge difference.
Ex: if Retiral bonus is 50000/anum, which can consider as DA and basic is 25000, Calculation is ----- (25000+50000)*15/26*5then gratuity amount will be 2,16,346/ -
if Retirals bonus is consider as basic, (25000+50000/12) *15/26*5 --- 84134/- Which differ around 1,30,000/-
If doesn't consider any retirals also then gratuity amount is 72115/- having 50000/year in CTC give me only 12000 for 5 years of service. How this is possible? then my CTC should be CTC-50000 only.
Please help me which one is correct?
From India, Bengaluru
I was working with a private company for 5.2 years, in my ctc some X amount is offered under annual as a retirals. In offer letter they have mentioned as it is given under gratuity act 1972.
Till now after 3 months, they didn't finalize the amount of gratuity. How these X amount will be calculated ? is it will be DA? if not will they divide the X/12 and add it basic and *15/26*5?? this make a huge difference.
Ex: if Retiral bonus is 50000/anum, which can consider as DA and basic is 25000, Calculation is ----- (25000+50000)*15/26*5then gratuity amount will be 2,16,346/ -
if Retirals bonus is consider as basic, (25000+50000/12) *15/26*5 --- 84134/- Which differ around 1,30,000/-
If doesn't consider any retirals also then gratuity amount is 72115/- having 50000/year in CTC give me only 12000 for 5 years of service. How this is possible? then my CTC should be CTC-50000 only.
Please help me which one is correct?
From India, Bengaluru
517
According to my CTC... Basic salary is 25000 and Retirals is 50000/- . So couldn't get the final figure for gratuity.
I am asking, which one is correct ? 84k or 2.1lac? so that I can move this issue into labour court.
From India, Bengaluru
I am asking, which one is correct ? 84k or 2.1lac? so that I can move this issue into labour court.
From India, Bengaluru
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Gratuity Act-Teachers-Ma dhya Pradesh.docx
Payment of Gratuity Act, 1972 & The Rules.ppt