GRATUITY
This query is : Resolved
14 April 2009
IS GRATUITY RECEIVED DURING THE SERVICE IS FULLY TAXABLE.....
CAN ANY ONE PLS TELL ME HOW TO CALCULATE THE GRATUITY
IS THERE IS ANY SPECIFIC FORMAT FOR CALCULATION
CAN ANY ONE PLS TELL ME HOW TO CALCULATE THE GRATUITY
IS THERE IS ANY SPECIFIC FORMAT FOR CALCULATION
16 April 2009
GRATUITY 10 (10) : Lumpsum amount paid by employer to employee in appreciation of past services.
AS per Gratuity act 1972It is payable if emplee has rendered service for continous period of 5 yrs .
Gratuity - In case of
1. Govt Emplyee - Fully Exempt
2. Non Govt Emplyee -
a. Covered under Payment of Gratuity Act - Least of the ollowing is Exempt
1. 350000
2. Amount Actually Recd
3. 15 / 26 * Last Drawn Salary * Completed years of Service
Completed years of Service - Eg 31.5 U should consider as 32 Yrs
SAlary = BAsic + D.A.
AS per Gratuity act 1972It is payable if emplee has rendered service for continous period of 5 yrs .
Gratuity - In case of
1. Govt Emplyee - Fully Exempt
2. Non Govt Emplyee -
a. Covered under Payment of Gratuity Act - Least of the ollowing is Exempt
1. 350000
2. Amount Actually Recd
3. 15 / 26 * Last Drawn Salary * Completed years of Service
Completed years of Service - Eg 31.5 U should consider as 32 Yrs
SAlary = BAsic + D.A.
16 April 2009
B. Not Covered Under Gratuity Act ---Least of the ollowing is Exempt
1. 350000
2. Amount Actually Recd
3. 15 / 30 * 10 mths Avg Salary * Completed years of Service
Completed years of Service - Eg 31.5 U should consider as 31 Yrs
SAlary = BAsic + D.A. + % of Commision
1. 350000
2. Amount Actually Recd
3. 15 / 30 * 10 mths Avg Salary * Completed years of Service
Completed years of Service - Eg 31.5 U should consider as 31 Yrs
SAlary = BAsic + D.A. + % of Commision
Manmohan ACA, CS
(Expert)
19 April 2009
Agree with expert vidya
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