Maximum ceiling for payment of gratuity under the Payment of Gratuity Act, 1972 with effect from 24/05/2010, is Rs.10 lakh. Prior to 24/05/2010; it was Rs.3.50 lakh.
From India, Pune
22From India, Pune
dear all,
Maximum limit for payment of gratuity is Rs. 3,50,000/- and instead of 30 days 26 days were consider as because calculation is done on the basis of working days which is 26 not 30 or 31 days, eligiblity cretaria should be completion of 5 yrs. of continues 4 years + 240 days will be consider as 5 year.
thanks & regards,
From,
Sumit Kumar Saxena,
9899669071
From India, Ghaziabad
Maximum limit for payment of gratuity is Rs. 3,50,000/- and instead of 30 days 26 days were consider as because calculation is done on the basis of working days which is 26 not 30 or 31 days, eligiblity cretaria should be completion of 5 yrs. of continues 4 years + 240 days will be consider as 5 year.
thanks & regards,
From,
Sumit Kumar Saxena,
9899669071
From India, Ghaziabad
Hi No, Maxmimum Gratuity payable limit has gone up to 10 Lac. Earlier ceiling was of 3.5 lac. Thnx
From India, Delhi
From India, Delhi
Dear Shri Sumit Kumar Ji, Please confirm maximum ceiling of gratuity. It has been increased to Rs.10 lakh from 24/05/2010 by an extra ordinary gazette notification.
From India, Pune
From India, Pune
Hi.
The formula of gratuity calculation is -
Last basic drawn/26*15*No. of completed years of service.
But gratuity will be given after completion of five years continuous service.
Regards
Ganesh
Manager-H.R
From India, Jamshedpur
The formula of gratuity calculation is -
Last basic drawn/26*15*No. of completed years of service.
But gratuity will be given after completion of five years continuous service.
Regards
Ganesh
Manager-H.R
From India, Jamshedpur
Dear Mr. Mukherjee,
Gratuity is to be calculated on Basic and DA last drawn by the employee,i.e. on the salary at the time of leaving. The formula is Last drawn Basic+ DA X No. of years of service X 15/26.
Ex : - Date of joining : 7.06.2005
Date Of Leaving : 19.09.2011
Service : 6 Years 3 Month 0 Days
Basic Wages + DA : 15850 per month
Total Lop : NIL GRATUITY WORKINGS : 15850 X 6 yrs X15/26 = Rs.54865/-
Regards,
S.KARTHIK -HR
From India, Madras
Gratuity is to be calculated on Basic and DA last drawn by the employee,i.e. on the salary at the time of leaving. The formula is Last drawn Basic+ DA X No. of years of service X 15/26.
Ex : - Date of joining : 7.06.2005
Date Of Leaving : 19.09.2011
Service : 6 Years 3 Month 0 Days
Basic Wages + DA : 15850 per month
Total Lop : NIL GRATUITY WORKINGS : 15850 X 6 yrs X15/26 = Rs.54865/-
Regards,
S.KARTHIK -HR
From India, Madras
As per revised law, max gratuity payable is Rs. 10 lac (more can be paid if not mentioned in contract but will be taxable), nd it should be calculated on Basic+DA of every year individually (as per gratuity act), but comps usually take the basic+DA of present year.
From India, Ghaziabad
From India, Ghaziabad
Re-Gratuity
The Basic + DA taken as ast drawn on the date of releaving.
Calculation will be as under:-
Salary last drawn (Basic + DA)*15/26*no years served.
The amount of Gratuity will be Calcuate above or Rs 10,00,000/- which ever is less.
Thanks
G.S.Saini
Cost Accountant
G. M Finance
COATEC INDIA
From India, Chandigarh
The Basic + DA taken as ast drawn on the date of releaving.
Calculation will be as under:-
Salary last drawn (Basic + DA)*15/26*no years served.
The amount of Gratuity will be Calcuate above or Rs 10,00,000/- which ever is less.
Thanks
G.S.Saini
Cost Accountant
G. M Finance
COATEC INDIA
From India, Chandigarh
Dear Members, Pls find herewith attached file for Calculation of Gratuity & Pls confirm that how a person can eligible to avail 6th Years Amount.
From India, Ludhiana
From India, Ludhiana
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.
FORM-F-NOMINATI ON OF GRATUITY.pdf
Gratuity Form I.doc