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(Querist)
08 July 2010 what is meant by gratuity
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Rahul Gupta

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Rahul Gupta (Expert)
08 July 2010 Dictonary Meaning of Gratuity >

1)Something voluntarily given in return for a favor or service, as a recompense or acknowledgment.
Something given freely or without recompense; a free gift; a present.


From the point of view of employee >

Gratuity is paid to employee out of Gratitude by employer if an employee complete 5 years of continuous service with the organisation.Gratuity will be calculated as

Basic + DA *15*No of years of service / 26

if an employee complete more than 6 months in an year can be taken as complete year.
Employer can stop the Gratuity when the employee has spoiled any company property or if he is liable for the company.
But employee should compulsorily complete 5 years of service.
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