Gratuvity
This query is : Resolved
13 December 2011
Please advise Gratuvity calculations ?
13 December 2011
1.Any gratuity received by the employees of the government or semi-government department including the employees of a local authority is fully exempted.
Any gratuity received by employees covered by the payment of gratuity act 1972 is as below.
From the gratuity received Whichever is lower of the following will be deductale:
a.Rs 10,00,000(Maximum)
b.Actual gratuity received
c.15 days salary (7 days in the case of employee of seasonal establishment) for each completed years of salary (Based on last drawn salary)
Service exceeding 6 months will be treated as one year
Salary of 15 days caluclated as
=Copleted years of servicex15/26
Any gratuity received by employees covered by the payment of gratuity act 1972 is as below.
From the gratuity received Whichever is lower of the following will be deductale:
a.Rs 10,00,000(Maximum)
b.Actual gratuity received
c.15 days salary (7 days in the case of employee of seasonal establishment) for each completed years of salary (Based on last drawn salary)
Service exceeding 6 months will be treated as one year
Salary of 15 days caluclated as
=Copleted years of servicex15/26
You need to be the querist or approved CAclub expert to take part in this query .
Click here to login now
Click here to login now
Unanswered Queries
- INTEREST APPLICABLE ON ITC REVERSAL PORTION
- Opting our of sec 44AD
- SALE OF MOTOR CAR BY REGISTERED INDIVIDUAL
- Multiple trade mark
- Transporter Declaration form
- Regarding TDS Applicability For Director Remuneration
- LC charges in relation to Asset purchased should be Capitalised ?
- Value of property in capital gain
- Copyright software
- Regarding appeal to GSTAT
- GST Treatment of Insurance Commission for Existing GST Holder
- Cash gift by grand mother to her grand daughter
- Tax amount diff in Gstr1 and 3B in tax compare reports
- Tds on GST in connection with sale to public company
- Restoration of certificate of practice
- Regarding change in correspondence address in SSP portal
- No Compliences after incorporation
- USEFUL LIFE OF USED/SECOND HAND COMMERCIAL VEHICLES
- Claiming TDS deducted by builder on Hardship compensation and Corpus
- Address Change to another state of a Registered Trust with 12AB approval
Trending Online Classes
-
DT & Audit (Exam Oriented Fastrack Batch) - For May 26 Exams and onwards Full English
CA Bhanwar Borana & CA Shubham Keswani
CAclubindia
