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Gratuity

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(Querist)
30 April 2014 respected sir/mem ,


please reply me urgent ,

gratuity act applicable on a company ....

compnay paid gratuity to his employee for one year service

gratuity is taxable in hand of employee.

right /wrong

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Rupesh Jain

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Rupesh Jain (Expert)
30 April 2014 gratuity will payable after completion of 5 year of service.

and it will payable on babis on last Basis salary for fifteen days salary nfor each complete year of service or more than 6 month of service year.

and exempt for employee
least of following;

1. 15 days salary last basis salary/26*15*year of service.
2.AMOUNT RECEIVED
3.RS. 10,00,000-00
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TEJMAL SHARMA

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TEJMAL SHARMA (Querist)
30 April 2014 sir i know gratuity is payble after 5 year contineus service complitation ..........
but company pay a person gratuity after 1 year service ...........
exempted in person hand or taxable
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