abt graguity
This query is : Resolved
20 January 2011
I have a query abt gragutity,my office college is working for last 5 years for the company,he wants to claim gragity,he says that as per govt.rule , after completion of 5 year in a company ,employee should get the benefit of graguity,what is the amount or calculation of graguity,pls solve my problem
thanx
subas
thanx
subas
20 January 2011
1st of all its "GRATUITY" !
After 5 years, the employee is eligible for the gratuity. But, he can claim it only after retirement or leaving the job.
After 5 years, the employee is eligible for the gratuity. But, he can claim it only after retirement or leaving the job.
20 January 2011
Calculation :
15 days salary (Basic) for each completed year of service or part in excess of 6 months.
When calculating the 15 days salary the gross days for month to be taken as 26.
so the formula is :
(Last drawn basic salary) X 15/26 X (No. of completed year of service or part in excess of 6 months.)
15 days salary (Basic) for each completed year of service or part in excess of 6 months.
When calculating the 15 days salary the gross days for month to be taken as 26.
so the formula is :
(Last drawn basic salary) X 15/26 X (No. of completed year of service or part in excess of 6 months.)
20 January 2011
hi Subhash Ji,the employee's ctc-23000/-,basic =10000/-pm,no of year working=7 yrs,what is the amount of graguity,he will get
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