Payment of gratuity

This query is : Resolved

Querist : Anonymous

Querist : Anonymous (Querist)

22 August 2011 Sir,

Are there any time limit to calculate the gratuity to make a provision as on 31st March.

e.g. if an employee has completed his 6 months in the company, the amount of gratuity will be provided in the books or not.

pls. advise

CMA Ramesh Krishnan

CMA Ramesh Krishnan (Expert)
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22 August 2011 Employees eligible for gratuity after completing 5 years, so once completing 5 years you can provide provision

Message likes : 1 times

Ravi Jhamb

Ravi Jhamb (Expert)
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23 August 2011 Yearly wise we make the Provision of the Gratuity or Gratuity Fund. The rational amount is given by the archay auditor of gratuity.The eligibility of employee who completed 5 years of service.