Gratuity is the amount to be paid to the employee by the employer on copletion of 5 years of uninturrupted service/retirement/retrechment. In case of death it will give up death date, there is no compltion 5 year service.
If your employer wants to planning for grauity ask to them put aside 4.81% amount of basic+da wages/ salary every month or take Gratuity Policy from any Insurance Company.
RA LAWANDE
From United States, San Jose
3If your employer wants to planning for grauity ask to them put aside 4.81% amount of basic+da wages/ salary every month or take Gratuity Policy from any Insurance Company.
RA LAWANDE
From United States, San Jose
Dear Friend,
Transfer to another institution run by the same Trust or Society does not imply break in service or fresh employment.
Under the circumstances, yes the transferred employee will be entitled to receive payment of Gratuity and for purposes of eligibility, his/her total service in all the institutions will be taken for reckoning.
Best Wishes,
Vasant Nair
From India, Mumbai
Transfer to another institution run by the same Trust or Society does not imply break in service or fresh employment.
Under the circumstances, yes the transferred employee will be entitled to receive payment of Gratuity and for purposes of eligibility, his/her total service in all the institutions will be taken for reckoning.
Best Wishes,
Vasant Nair
From India, Mumbai
Dear Rajesh,
I would like to inform you one thing gratuity calculation made only on the Last Basic+DA amount when he left the organisation after completion of 5 year. Generally accounts department put some amount as Gratuity amount in there balance sheet to get Tax benefit but there is no deduction from employee side.
For better clarification kindly go through Gratuity Act.
Ratikanta Rath
From India, Durgapur
I would like to inform you one thing gratuity calculation made only on the Last Basic+DA amount when he left the organisation after completion of 5 year. Generally accounts department put some amount as Gratuity amount in there balance sheet to get Tax benefit but there is no deduction from employee side.
For better clarification kindly go through Gratuity Act.
Ratikanta Rath
From India, Durgapur
Dear S.S.Raj,
Kindly post your question in new form so that you will get more information.
Talking about your concern my personal advice will be don't take the Balance sheet to EPF office, try to meet with the concern enforcement officer and settle everything by depositing penalty what so ever and regularize the contractor so that in future these kind of problem will not happen again. As you are saying PF for 40 casual employees has not deducted if it has been done from long time or more contractors like them are there in balance sheet it can be easily captured whose PF is not deducted then they will easily lodge 7A case against your company. since enforcement officer have the legal right to ask for Balance sheet.
for any information feel free to ask
Ratikanta Rath
From India, Durgapur
Kindly post your question in new form so that you will get more information.
Talking about your concern my personal advice will be don't take the Balance sheet to EPF office, try to meet with the concern enforcement officer and settle everything by depositing penalty what so ever and regularize the contractor so that in future these kind of problem will not happen again. As you are saying PF for 40 casual employees has not deducted if it has been done from long time or more contractors like them are there in balance sheet it can be easily captured whose PF is not deducted then they will easily lodge 7A case against your company. since enforcement officer have the legal right to ask for Balance sheet.
for any information feel free to ask
Ratikanta Rath
From India, Durgapur
There is no deduction can be made for gratuity it is given for gratitude of an employee for serving a company after completion of five years service in an organization gratuity paid by the employer fifteen days salry of basic for every completing year, so there is no such deduction, now a days companies are following CTC which costs everything they provide to an employee, but that is negotiate by an employee with the company while joining any organization and it vary company to company.
From United States, Chicago
From United States, Chicago
Dear JSNEGI,
It is assumed that your reply is in the connection of attached gratuity calculation sheet.
[A]1st [/B]of all thanks for your comments. In the policy of Gratuity there is clearly mentioned in every company's policy, that 5 /3 /1 year (s) what years company fix for maturity of gratuity "Regular staff of company will be entitled to gratuity equivalent to one month Gross salary per year after completion of continued ____ years service.
After this I don't think if a person absent about 100 days in a year can meet ful year gratuity of that year.
[B] 2nd You are requested to pleae share your knowledge regarding "CTC" in detail, as I don't know about it.
Thanks for your cooperation in advance.
Regards,
Kashan
From Pakistan
It is assumed that your reply is in the connection of attached gratuity calculation sheet.
[A]1st [/B]of all thanks for your comments. In the policy of Gratuity there is clearly mentioned in every company's policy, that 5 /3 /1 year (s) what years company fix for maturity of gratuity "Regular staff of company will be entitled to gratuity equivalent to one month Gross salary per year after completion of continued ____ years service.
After this I don't think if a person absent about 100 days in a year can meet ful year gratuity of that year.
[B] 2nd You are requested to pleae share your knowledge regarding "CTC" in detail, as I don't know about it.
Thanks for your cooperation in advance.
Regards,
Kashan
From Pakistan
Hi Avinashudm,
I found your answer very easier & simpler in able to under the calculation part. I am very thankful to you & all who posted their comments.
Thanks to Cite HR .
Thanks to one & all.........
Regards,
Rajesh.N
From India, Hyderabad
I found your answer very easier & simpler in able to under the calculation part. I am very thankful to you & all who posted their comments.
Thanks to Cite HR .
Thanks to one & all.........
Regards,
Rajesh.N
From India, Hyderabad
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REQUEST FOR DEDUCTION OF GRATUITY AMOUNT (2).pdf
Security Amount Proof.docx