Dear Sir/Madam/HR Professionals,
Kindly provide me with the latest Gratuity calculation. One of my colleagues has recently resigned and has completed 5 years and 3 months in the current organization. Kindly advise if we have to calculate and pay him the Gratuity for 5 years or 6 years. I am confused about whether to pay him for 5 years or 6 years as he has completed more than 5 years of continuous service.
Thanks and Warm Regards,
Vinayak Sonawane
From India, New Delhi
Acknowledge(0)
Amend(0)
9Kindly provide me with the latest Gratuity calculation. One of my colleagues has recently resigned and has completed 5 years and 3 months in the current organization. Kindly advise if we have to calculate and pay him the Gratuity for 5 years or 6 years. I am confused about whether to pay him for 5 years or 6 years as he has completed more than 5 years of continuous service.
Thanks and Warm Regards,
Vinayak Sonawane
From India, New Delhi
Acknowledge(0)Amend(0)
Dear Vinayak, In this case the Calculation for gratuity would be : Current Basic/26*15*5 There will be no payment for extra 03 months.
From India, New Delhi
Acknowledge(0)Amend(0)
From India, New Delhi
Acknowledge(0)Amend(0)
Gratuity = (last drawn Basic+DA)/26 x 15 days x No. of yrs. of service regards bhav narayana asst manager hr
From Singapore, Singapore
Acknowledge(0)Amend(0)
From Singapore, Singapore
Acknowledge(0)Amend(0)
Hi, Post completing 5 years in the organization, every 6 months what an employee complete’s in rounded & considered as 1 year.
From India, Bangalore
Acknowledge(0)Amend(0)
From India, Bangalore
Acknowledge(0)Amend(0)
Hi Vinayak,
You have to consider only 5 years of service for calculating gratuity. If he had served for more than six months, then you can consider it as 6 years. However, in this case, he has served for only 3 months after 5 years of service. Therefore, you have to calculate for 5 years only.
Regards,
Kumar
From India, Bangalore
Acknowledge(0)Amend(0)
You have to consider only 5 years of service for calculating gratuity. If he had served for more than six months, then you can consider it as 6 years. However, in this case, he has served for only 3 months after 5 years of service. Therefore, you have to calculate for 5 years only.
Regards,
Kumar
From India, Bangalore
Acknowledge(0)Amend(0)
Hai Vinayak, in these case you consider only 5 years. you can take more then six months at rounded of one year. Suresh
From India, Madras
Acknowledge(0)Amend(0)
From India, Madras
Acknowledge(0)Amend(0)
Dear Mr. Vinayak,
Regarding your query on the above subject, please refer to Section 4 for the eligibility criteria for an employee to claim gratuity. This means that any employee who has completed 5 years of continuous service at the time of resignation or retirement, or upon reaching the age of superannuation, is eligible. The calculation should be based on 15 days' wages for every completed year of service or part thereof exceeding six months. In your case, the employee is eligible for 5 years only.
Regards,
P.V. Rama Rao
9666051720
From India, Chennai
Acknowledge(0)Amend(0)
Regarding your query on the above subject, please refer to Section 4 for the eligibility criteria for an employee to claim gratuity. This means that any employee who has completed 5 years of continuous service at the time of resignation or retirement, or upon reaching the age of superannuation, is eligible. The calculation should be based on 15 days' wages for every completed year of service or part thereof exceeding six months. In your case, the employee is eligible for 5 years only.
Regards,
P.V. Rama Rao
9666051720
From India, Chennai
Acknowledge(0)Amend(0)
Dear All,
Our company has opted for the LIC group gratuity scheme. Are there any alternative options for the employer to maintain their employee gratuity scheme? Any suggestions in this regard would be appreciated.
Please clarify.
Regards,
R. Udayakumar
From India, Madras
Acknowledge(0)Amend(0)
Our company has opted for the LIC group gratuity scheme. Are there any alternative options for the employer to maintain their employee gratuity scheme? Any suggestions in this regard would be appreciated.
Please clarify.
Regards,
R. Udayakumar
From India, Madras
Acknowledge(0)Amend(0)
since the person has worked for 5yrs 3months. 5yrs should be considered for 6yrs if person has worked for more 6 months then it is rounded off to 6yrs
From India, Hyderabad
Acknowledge(0)Amend(0)
From India, Hyderabad
Acknowledge(0)Amend(0)Looking for something specific? - Join & Be Part Of Our Community and get connected with the right people who can help. Our AI-powered platform provides real-time fact-checking, peer-reviewed insights, and a vast historical knowledge base to support your search.