Provision for Gratuity
This query is : Resolved
vidya p nambiar
(Querist)
26 July 2008
please send me procedure for calculating provision for gratuity, whether a provision for gratuity is necessary or not ?
CA. Vineet Grover
(Expert)
26 July 2008
Dear Vidya,
The calculation of gratuity is as under:
Gratuity = Monthly Salary x 15 days x No. of yrs. of service / 26 days
Provision of gratuity is mandatory for compamies. Further gratuity is applicable for companies which are inn existent for 5 years or more.
Rgsd/
Vineet
The calculation of gratuity is as under:
Gratuity = Monthly Salary x 15 days x No. of yrs. of service / 26 days
Provision of gratuity is mandatory for compamies. Further gratuity is applicable for companies which are inn existent for 5 years or more.
Rgsd/
Vineet
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