Dear Sir /Mam,
As per my knowledge an employee can take their Max. Gratuity amount Rs. 3.5 Lacks. But some while I heard that an employee who completed atleast 5 years consistently of his /her service he/ she can take Max. Amount of Rs. 10 Lacks. My question is what exactly max. amount can take by an employee from his/ her Gratuity amount?
From India, Gandhidham
As per my knowledge an employee can take their Max. Gratuity amount Rs. 3.5 Lacks. But some while I heard that an employee who completed atleast 5 years consistently of his /her service he/ she can take Max. Amount of Rs. 10 Lacks. My question is what exactly max. amount can take by an employee from his/ her Gratuity amount?
From India, Gandhidham
The maximum gratuity has been increased from Rs 3.5 lakhs to 10 lakhs in 2010. The amount of gratuity is equal to 15 days pay for every completed year of service. Regards, Madhu.T.K
From India, Kannur
3891From India, Kannur
The gratuity amount has been increased from Rs.3.5 lakhs to 10 lakhs from 2010. Calculation of gratuity amount is = basic+DA (last pay drawn) /26x15 days x total number of years worked
From India, Madras
From India, Madras
Dear Madhu T.K., Its lots of thanks to you that you suggest me about actual concept of Gratuity act. Its great pleasure for me to taking guidance under you. Take care your self. Vikky Goswami
From India, Gandhidham
From India, Gandhidham
Dear vikram giri,
greetings for the day,
As celing of gratuity has been raised from 3.5 lac to 10 lac any eligiblity cretaria is 5 years of continues service.
thanks & regards,
From,
Sumit Kumar saxena,
9899669071
From India, Ghaziabad
greetings for the day,
As celing of gratuity has been raised from 3.5 lac to 10 lac any eligiblity cretaria is 5 years of continues service.
thanks & regards,
From,
Sumit Kumar saxena,
9899669071
From India, Ghaziabad
Hi friends, as questioned by Mr. Kaushik above, what the Gratuity Act say if someone expires before completing the mandatory five years of service?
From India, Ludhiana
From India, Ludhiana
Dear Member,
In the case of death of the employee, gratuity payable to him shall be paid to his nominee or, if no nomination has been made, to his heirs, and where any such nominees or heirs is a minor, the share of such minor, shall be deposited with the controlling authority who shall invest the same for the benefit of such minor in such bank or other financial institution, as may be prescribed, until such minor attains majority.For more details plz go through sec. 4 of P G Act, 1972
R.N.KHOLA
(Labour Law Consultants)
From India, Delhi
In the case of death of the employee, gratuity payable to him shall be paid to his nominee or, if no nomination has been made, to his heirs, and where any such nominees or heirs is a minor, the share of such minor, shall be deposited with the controlling authority who shall invest the same for the benefit of such minor in such bank or other financial institution, as may be prescribed, until such minor attains majority.For more details plz go through sec. 4 of P G Act, 1972
R.N.KHOLA
(Labour Law Consultants)
From India, Delhi
The maximum gratuity ceiling of Rs. 3.5 lakh has been increased to 10 lakhs in 2010.
pl. find herewith the related GO for your use.
Regards
Yagniah K
Manager -HR
Sri Chakra Cement Limited, Hyderabad
09703219177
From India, Hyderabad
pl. find herewith the related GO for your use.
Regards
Yagniah K
Manager -HR
Sri Chakra Cement Limited, Hyderabad
09703219177
From India, Hyderabad
Mr.Kausik
The Gratuity eligiblility for death case is one year. If he has complected one year you have to pay the gratuity to his nominee up to his retirement age ie 58. You have to calculate gratuity for the remaining years and amount has to pay to his nominee. Hence most of the company will attach this gratuity with LIC and will pay the premium amount to the LIC so that LIC will pay to his nominee.
regards
Alphonse
9443625359
From India, Madras
The Gratuity eligiblility for death case is one year. If he has complected one year you have to pay the gratuity to his nominee up to his retirement age ie 58. You have to calculate gratuity for the remaining years and amount has to pay to his nominee. Hence most of the company will attach this gratuity with LIC and will pay the premium amount to the LIC so that LIC will pay to his nominee.
regards
Alphonse
9443625359
From India, Madras
I have a questions on payment of gratuity
What happen In the case of death of the employee who has just completed two year of service and his salary is 10000 at the time of his death?
What will be the amount of gratuity payable to his nominee?
How will the calculation happen in this case?
Regards
Vishal Setia
From India, Faridabad
What happen In the case of death of the employee who has just completed two year of service and his salary is 10000 at the time of his death?
What will be the amount of gratuity payable to his nominee?
How will the calculation happen in this case?
Regards
Vishal Setia
From India, Faridabad
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