Dear Santosh,
Can you mention here your Last Pay Drawn (at the time of leaving) with break up, and month wise, Gross salary with break up showing every nature of components like basic pay, DA, other allowances etc. for the preceding twelve months to work exactly what's your entitlement etc.?
From India, Bangalore
1063Can you mention here your Last Pay Drawn (at the time of leaving) with break up, and month wise, Gross salary with break up showing every nature of components like basic pay, DA, other allowances etc. for the preceding twelve months to work exactly what's your entitlement etc.?
From India, Bangalore
Dear Mr. Santosh Mane,
The Gratuity Calculation done by our member Mr. Rajesh Kumar Dubey. Bonus for the period 2015-16 shall be payable after the closure of the books. As far as Gratuity is concerned , it should be settled within a month after submission of your I form to the employer. Nowadays most of the employers are investing in LIC's Group Gratuity Scheme and LIC Settles the amount within a week's time to the Employer's Scheme account thru RTGS/NEFT after submission of the emplyee's details to the concerned scheme. Methodical approach is always best for your settlements.
Ravi.
From India, Mumbai
The Gratuity Calculation done by our member Mr. Rajesh Kumar Dubey. Bonus for the period 2015-16 shall be payable after the closure of the books. As far as Gratuity is concerned , it should be settled within a month after submission of your I form to the employer. Nowadays most of the employers are investing in LIC's Group Gratuity Scheme and LIC Settles the amount within a week's time to the Employer's Scheme account thru RTGS/NEFT after submission of the emplyee's details to the concerned scheme. Methodical approach is always best for your settlements.
Ravi.
From India, Mumbai
No, it's not 6 months rounded of to a year.
The act very specifically says years of completed service.
He has to work more than 240 days in the year.
He has worked 287 days, so to that extent you are right to add another year of gratuity.
From India, Mumbai
The act very specifically says years of completed service.
He has to work more than 240 days in the year.
He has worked 287 days, so to that extent you are right to add another year of gratuity.
From India, Mumbai
As you can claim gratuity as your service is more than 5 years gratuity can be claimed and as you cited basic salary is Rs. 5800/- bonus can also be claimed. Thanks & Regards, From Sumit Kumar Saxena
From India, Ghaziabad
From India, Ghaziabad
MR S Banerj
Gratuity calculation and entitlement both are two separate issue. pls do't mix. Calculation done by me for 7Years are totally ok.
You have denied but mr abbas has confirmed means you should once agan check the detaild if possible at ur end.
thanks
From India
Gratuity calculation and entitlement both are two separate issue. pls do't mix. Calculation done by me for 7Years are totally ok.
You have denied but mr abbas has confirmed means you should once agan check the detaild if possible at ur end.
thanks
From India
Dear Mr.Saswata Banerjee,
Kindly see the Section 4 subsection 2 of the Gratuity act as under : -
" For every completed year of service or part thereof in excess of six months, the employer shall pay gratuity to an employee at
the rate of fifteen days' wages based on the rate of wages last drawn by the employee concerned"
Accordingly service more than 6 months will be treated as one year for gratuity calculation. 240 days per year is for the minimum eligibility (first 5 years).
Hence gratuity amount in this case is 5800x7x15/26 = Rs. 23423.
Abbas.P.S
From India, Bangalore
Kindly see the Section 4 subsection 2 of the Gratuity act as under : -
" For every completed year of service or part thereof in excess of six months, the employer shall pay gratuity to an employee at
the rate of fifteen days' wages based on the rate of wages last drawn by the employee concerned"
Accordingly service more than 6 months will be treated as one year for gratuity calculation. 240 days per year is for the minimum eligibility (first 5 years).
Hence gratuity amount in this case is 5800x7x15/26 = Rs. 23423.
Abbas.P.S
From India, Bangalore
Find answers from people who have previously dealt with business and work issues similar to yours - Please Register and Log In to CiteHR and post your query.
Amendment to Payment of Bonus Act 2015.jpg
Bonus act amendment gazette copy.pdf
Bonus-amendment _206.doc