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
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