abt graguity

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Subhas Parida (Querist)
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20 January 2011 I have a query abt gragutity,my office college is working for last 5 years for the company,he wants to claim gragity,he says that as per govt.rule , after completion of 5 year in a company ,employee should get the benefit of graguity,what is the amount or calculation of graguity,pls solve my problem
thanx
subas

CMA. Subhash Kumar Jha

CMA. Subhash Kumar Jha (Expert)
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20 January 2011 1st of all its "GRATUITY" !

After 5 years, the employee is eligible for the gratuity. But, he can claim it only after retirement or leaving the job.

CMA. Subhash Kumar Jha

CMA. Subhash Kumar Jha (Expert)
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20 January 2011 Calculation :

15 days salary (Basic) for each completed year of service or part in excess of 6 months.

When calculating the 15 days salary the gross days for month to be taken as 26.

so the formula is :

(Last drawn basic salary) X 15/26 X (No. of completed year of service or part in excess of 6 months.)

Subhas Parida

Subhas Parida (Querist)
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20 January 2011 hi Subhash Ji,the employee's ctc-23000/-,basic =10000/-pm,no of year working=7 yrs,what is the amount of graguity,he will get

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