Hi
My basic pay is 7500 with grade/perquisite allowance of 10989.. my company will deduct gratuity yearly and it is applicable from day one.. however this has never appeared on my salary slip.
My question : 1) As my basic is only 7500, do i need to pay for gratuity
2) the monthly deduction comes to 450 Rs. but why is it not mentioned on my payslip ?? do i need to raise vocie ???
From India, Pune
My basic pay is 7500 with grade/perquisite allowance of 10989.. my company will deduct gratuity yearly and it is applicable from day one.. however this has never appeared on my salary slip.
My question : 1) As my basic is only 7500, do i need to pay for gratuity
2) the monthly deduction comes to 450 Rs. but why is it not mentioned on my payslip ?? do i need to raise vocie ???
From India, Pune
Hi,
Gratuity is not deducted from employee. This is a benefit given-as per the statute by the copmany when employee leaves the organization and if he has completed 5 years contineous service.
Normally employer shows the gratuity/PF/other benefits as a part of CTC and not monthly salary. Hence in your case the gratuity must be the part of CTC which is copmany cost on you.
Hence it will not reflect in salary slip.
Regards,
From India, Pune
124Gratuity is not deducted from employee. This is a benefit given-as per the statute by the copmany when employee leaves the organization and if he has completed 5 years contineous service.
Normally employer shows the gratuity/PF/other benefits as a part of CTC and not monthly salary. Hence in your case the gratuity must be the part of CTC which is copmany cost on you.
Hence it will not reflect in salary slip.
Regards,
From India, Pune
Hi HImanshu,
Gratuity is paid by employer to an employee for his long term good conduct... A long term service means 5 years.
The contribution is made by wholly by the company (hence included in ur CTC) and is payable to you only when you resign/retire after serving a min of 5 years in the organization. Till that time the accrued amt is kept safe with employer/third party like LIC.
The gratuity amount wouldn't be reflected in your salary slip, it would only be there in your appointment letter (Chk if the breakage is given)
If incase you leave organization before 5 years, you do not get it. You should've atleast worked for 4yrs 8mnths to round it off to 5yrs.
Every 6 and more months after 5yrs would be rounded up.
A month less than 6, would be rounded down.
Hope you're doubts are cleared.
From India, Mumbai
Gratuity is paid by employer to an employee for his long term good conduct... A long term service means 5 years.
The contribution is made by wholly by the company (hence included in ur CTC) and is payable to you only when you resign/retire after serving a min of 5 years in the organization. Till that time the accrued amt is kept safe with employer/third party like LIC.
The gratuity amount wouldn't be reflected in your salary slip, it would only be there in your appointment letter (Chk if the breakage is given)
If incase you leave organization before 5 years, you do not get it. You should've atleast worked for 4yrs 8mnths to round it off to 5yrs.
Every 6 and more months after 5yrs would be rounded up.
A month less than 6, would be rounded down.
Hope you're doubts are cleared.
From India, Mumbai
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FORM-F-NOMINATI ON OF GRATUITY.pdf
Gratuity Form I.doc