Hi Pooja,
can you clear me about the gratuity is paying from the employer or you have taken the account through the LIC,
if the Employer is paying the Gratuity then as per your said working days and years he/she is not eligible..
but, if the said person amount towards the Gratuity is being deducted from the Employee salary and then sent to LIC, then the concern person is authorized to get the total Gratuity amount which has been depostied in the LIC office.
I hope this clears your doubt
With regards
Satya Penubothu
[IMG]https://www.citehr.com/misc.php?do=email_dev&email=cGVudWJvdGh1c0BnbWFpbC 5jb20=[/IMG]
From India, Hyderabad
7can you clear me about the gratuity is paying from the employer or you have taken the account through the LIC,
if the Employer is paying the Gratuity then as per your said working days and years he/she is not eligible..
but, if the said person amount towards the Gratuity is being deducted from the Employee salary and then sent to LIC, then the concern person is authorized to get the total Gratuity amount which has been depostied in the LIC office.
I hope this clears your doubt
With regards
Satya Penubothu
[IMG]https://www.citehr.com/misc.php?do=email_dev&email=cGVudWJvdGh1c0BnbWFpbC 5jb20=[/IMG]
From India, Hyderabad
The Gratuity is payable only when employee completes 5 yrs continuous service with one employer. If the period of service is less than 5 yrs. Employer is not bound to pay gratuity. Ninad Sirdesai
From India, Mumbai
From India, Mumbai
The Gratuity is payable only when employee completes 5 yrs continuous service with one employer. If the period of service is less than 5 yrs. Employer is not bound to pay gratuity. Ninad Sirdesai
From India, Mumbai
From India, Mumbai
Hi Pooja,
This is maharana from Mumbai as per the discussion regarding the gratuity for the last year of service, if the employee has completed More than 6 months, it will be treated as full year for purpose of gratuity as per the act.
regards,
R. M. Maharana
From India, Mumbai
This is maharana from Mumbai as per the discussion regarding the gratuity for the last year of service, if the employee has completed More than 6 months, it will be treated as full year for purpose of gratuity as per the act.
regards,
R. M. Maharana
From India, Mumbai
Dear Amith, There is judgement from court , if employee completes 240 days in 5th year, he shall be eliglble. Regards, Mukesh Sachdeva
From India, Mumbai
From India, Mumbai
Re:
Dear Disha Bansal,
First of all my name is Pravina not parveena, pls......... tak care of this!
Pls understand it was by mistake I've written 15 years ther. Anyways u can also make that corrections to chk this out. for ex.
Instead 5 years take 15 years & make the same changes in the formula as given below:
e.g. : Basic = Rs. 10,000/-
No. of years = 5 years / 15 years
Gratuity = 10,000*15/26*5 / 10,000*15/26*15
= Rs. 28,846.15/- = Rs.86,538.45/-
See it was so simple........
I think this much understanding one should have before asking like this......
Bye the no probs........
Hi Parveena,
If you said that Formula for gratuity calculation is as given below then why in the example u have taken no. of years 5 instead of 15?
Basic*15/26* no. of years
e.g. : Basic = Rs. 10,000/-
No. of years = 5 years
Gratuity = 10,000*15/26*5
= Rs. 28,846.15/-
From India, Mumbai
Dear Disha Bansal,
First of all my name is Pravina not parveena, pls......... tak care of this!
Pls understand it was by mistake I've written 15 years ther. Anyways u can also make that corrections to chk this out. for ex.
Instead 5 years take 15 years & make the same changes in the formula as given below:
e.g. : Basic = Rs. 10,000/-
No. of years = 5 years / 15 years
Gratuity = 10,000*15/26*5 / 10,000*15/26*15
= Rs. 28,846.15/- = Rs.86,538.45/-
See it was so simple........
I think this much understanding one should have before asking like this......
Bye the no probs........
Hi Parveena,
If you said that Formula for gratuity calculation is as given below then why in the example u have taken no. of years 5 instead of 15?
Basic*15/26* no. of years
e.g. : Basic = Rs. 10,000/-
No. of years = 5 years
Gratuity = 10,000*15/26*5
= Rs. 28,846.15/-
From India, Mumbai
Dear Friends,
As per me, we are dragging the subject to confusion state to our frns,
As per the Act, one employee should complete 5 years service in any organisation to get the Gratuity, more over as per the act, he should work minimum 240 days in a calendar year, otherwise he will not get the gratuity for the specific year, for example a employee :
1 st year - worked 280 days
2 nd year - worked 280 days
3rd year - worked 240 days
4 th year - worked 210 days
5 th tear - worked 250 days
The employee is eligible for gratuity, but as per act Specific 4th year ( where he was worked below 240 working days) amount he will not get, but companies normally consider for all the years which he rendered the services. Since, this is retirement benefit.
I feel iam not wrong.
I suggest all frns to put example to share their views, which will give more awareness and knowledge.
Rgds,
PS
From India, New Delhi
As per me, we are dragging the subject to confusion state to our frns,
As per the Act, one employee should complete 5 years service in any organisation to get the Gratuity, more over as per the act, he should work minimum 240 days in a calendar year, otherwise he will not get the gratuity for the specific year, for example a employee :
1 st year - worked 280 days
2 nd year - worked 280 days
3rd year - worked 240 days
4 th year - worked 210 days
5 th tear - worked 250 days
The employee is eligible for gratuity, but as per act Specific 4th year ( where he was worked below 240 working days) amount he will not get, but companies normally consider for all the years which he rendered the services. Since, this is retirement benefit.
I feel iam not wrong.
I suggest all frns to put example to share their views, which will give more awareness and knowledge.
Rgds,
PS
From India, New Delhi
Dear Friends,
As per me, we are dragging the subject to confusion state to our frns,
As per the Act, one employee should complete 5 years service in any organisation to get the Gratuity, more over as per the act, he should work minimum 240 days in a calendar year, otherwise he will not get the gratuity for the specific year, for example a employee :
1 st year - worked 280 days
2 nd year - worked 280 days
3rd year - worked 240 days
4 th year - worked 210 days
5 th tear - worked 250 days
The employee is eligible for gratuity, but as per act Specific 4th year amount he will not get, but companies normally consider for all the years which he rendered the services. Since, this is retirement benefit.
Rgds,
PS
From India, New Delhi
As per me, we are dragging the subject to confusion state to our frns,
As per the Act, one employee should complete 5 years service in any organisation to get the Gratuity, more over as per the act, he should work minimum 240 days in a calendar year, otherwise he will not get the gratuity for the specific year, for example a employee :
1 st year - worked 280 days
2 nd year - worked 280 days
3rd year - worked 240 days
4 th year - worked 210 days
5 th tear - worked 250 days
The employee is eligible for gratuity, but as per act Specific 4th year amount he will not get, but companies normally consider for all the years which he rendered the services. Since, this is retirement benefit.
Rgds,
PS
From India, New Delhi
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SALARY SHEET CALCULATION.xls