hiii
my CTC ( cost to company) Rs.15000pm. plz tell me what amount should be deducted by emloyer as a gratuity.
3 Replies
Rashid VA
(Articled Assistant)
(44 Points)
Replied 22 July 2010
Hi... Bro... use the folloing formula.....
Your last drawn salary*15*no:of years of services/26
But Buddy.. Gratuity is alumpsum amount payable by the employer to employee at the time of termination of employment. the requirement is that he would have given atleast 5 years of countinous service
Harpreet
(* * * * * *)
(1670 Points)
Replied 22 July 2010
If Graturity Act applicable the amount will be deduct from ur salary for a year is Rs. 8654/- (Rs.721/- per month)
If gratutiy act not applicable then Rs. 7500/- for a year will be deduct from ur salary Rs.7500/- (Rs. 625/- per month)
i have assumed that salary will not increase for 12months, if increase the amount can vary.
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