16 April 2009
GRATUITY 10 (10) : Lumpsum amount paid by employer to employee in appreciation of past services. AS per Gratuity act 1972It is payable if emplee has rendered service for continous period of 5 yrs . Gratuity - In case of 1. Govt Emplyee - Fully Exempt 2. Non Govt Emplyee - a. Covered under Payment of Gratuity Act - Least of the ollowing is Exempt
1. 350000 2. Amount Actually Recd 3. 15 / 26 * Last Drawn Salary * Completed years of Service
Completed years of Service - Eg 31.5 U should consider as 32 Yrs
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