Prabeer (B. COM (H) CA & CS Final) (5484 Points)
04 November 2008Under the Payment of Gratuity Act, 1972 why 26 days are considered as one month in the formula (15/26 X Last drawn salary X Number of completed years of service or part thereof in excess of 6 months) for the computation of taxable amount of Gratuity?
S.Srinivasaraghavan
(Chief Financial Officer and Co)
(11318 Points)
Replied 04 November 2008
52 sundays are deducted from 365 days and the balance is divided by 12 to arrive at 26 for the denominator. The numerator of course is half a month.
| Originally posted by :PRABEER SARKAR | ||
| " | Under the Payment of Gratuity Act, 1972 why 26 days are considered as one month in the formula (15/26 X Last drawn salary X Number of completed years of service or part thereof in excess of 6 months) for the computation of taxable amount of Gratuity? | " |
is that last drawn salary - gross , basic , net salary.
Bala
(CFO, Cogzidel)
(59 Points)
Replied 05 November 2008
All Sundays in a month are excluded from calculation and hence, 26 days in a month are considered to be working days. That's the reason for having the denominator as 26 days.
Bala
www.cogzidel.in
Jayesh G Khona
(CEO)
(22 Points)
Replied 02 June 2009
If Gratuity is paid as per POGA 1972, What is the maximum amount payable as gratuity?.
gurwinder singh
(jagraon)
(26 Points)
Replied 10 February 2010
if my salary is 22000 basic pay d.a 13200 gratuity calulation
amrish
(Assistant Manager - F&A)
(22 Points)
Replied 15 February 2010
3.5 Lakh at the most....
| Originally posted by : Jayesh G Khona | ||
 |
If Gratuity is paid as per POGA 1972, What is the maximum amount payable as gratuity?. |
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B.S.Omkareshwar
(CA-Final Student)
(217 Points)
Replied 04 March 2015
CAclubindia
