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Criteria for applicability of gratuity in pvt ltd

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Querist : Anonymous

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Querist : Anonymous (Querist)
21 December 2012 Dear

I want know the provision for applicability of gratuity in a pvt ltd co.
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@VaibhavJ

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@VaibhavJ (Expert)
21 December 2012 Hi

It is applicable when employed 10 or more employee.

Formula is - Last Drawn Basic x 15 x No. of services/26 days

It is to be paid when employee completes 4 yrs & 320 days of services

Maximum amount exempted in 10 lacs p.a.

Thanks//Vaibhav
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CA BHARATH KUMAR

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CA BHARATH KUMAR (Expert)
24 December 2012 yes applicable only for 10 or more employee worked .
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