Hai,
If any employee who is on the rolls of the company completes 5 years of continuous service will be eligible for Gratuity.
Formula:
Last drawn Basic * No. of years of service * 15/26.
Maximum eligibility issue also revised recently.
KSK
From India, Hyderabad
If any employee who is on the rolls of the company completes 5 years of continuous service will be eligible for Gratuity.
Formula:
Last drawn Basic * No. of years of service * 15/26.
Maximum eligibility issue also revised recently.
KSK
From India, Hyderabad
As per the Payment of Gratuity Act, 1972, payment of gratuity is compulsory by the managements of factoriers, plantations, mines, oild fields, railways, shops and other establishments employing 10 or more persons . Gratuity is payable to all the employees who render a minimum continuous service of five years with his present employer.
From India, Lucknow
From India, Lucknow
Dear Minky,
Your queries are replied as follows:
1) 5 years of continuos service in the company without gap is required for grautity i.e 240 working days in a year
2) Gratuity is a statutory payment and it can't be avoided on the basis of company policy
3) Gratuity & PF both are separate enactments
From India, New Delhi
67Your queries are replied as follows:
1) 5 years of continuos service in the company without gap is required for grautity i.e 240 working days in a year
2) Gratuity is a statutory payment and it can't be avoided on the basis of company policy
3) Gratuity & PF both are separate enactments
From India, New Delhi
Hi
As per the provisions of Gratuity Act, 1972, those who complete 5 years are entitled for gratutity. Gratuity amount will be calculated as follows:
Last Drawn Basic & Dearness Allowance X 15/26 X No of completed years of service
If a person puts in more than 240 days service in the fifth year, he is entitled for gratuity as per the guidelines laid down in "Mettur Beardsell" case by Madras High Court.
Refer 1998 LLR 1072 for the above case law.
Regards
Kalyan R
9840942232
From India, Madras
As per the provisions of Gratuity Act, 1972, those who complete 5 years are entitled for gratutity. Gratuity amount will be calculated as follows:
Last Drawn Basic & Dearness Allowance X 15/26 X No of completed years of service
If a person puts in more than 240 days service in the fifth year, he is entitled for gratuity as per the guidelines laid down in "Mettur Beardsell" case by Madras High Court.
Refer 1998 LLR 1072 for the above case law.
Regards
Kalyan R
9840942232
From India, Madras
Community Support and Knowledge-base on business, career and organisational prospects and issues - Register and Log In to CiteHR and post your query, download formats and be part of a fostered community of professionals.
Employee Appraisal Form new.doc