Criteria for applicability of gratuity in pvt ltd
This query is : Resolved
Querist : Anonymous
Querist :
Anonymous
(Querist)
21 December 2012
Dear
I want know the provision for applicability of gratuity in a pvt ltd co.
I want know the provision for applicability of gratuity in a pvt ltd co.
21 December 2012
Hi
It is applicable when employed 10 or more employee.
Formula is - Last Drawn Basic x 15 x No. of services/26 days
It is to be paid when employee completes 4 yrs & 320 days of services
Maximum amount exempted in 10 lacs p.a.
Thanks//Vaibhav
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It is applicable when employed 10 or more employee.
Formula is - Last Drawn Basic x 15 x No. of services/26 days
It is to be paid when employee completes 4 yrs & 320 days of services
Maximum amount exempted in 10 lacs p.a.
Thanks//Vaibhav
Revert for more clarity.
Click thank button to convey your appreciation.
24 December 2012
yes applicable only for 10 or more employee worked .
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